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We study entry and bidding patterns in sealed bid and open auctions with heterogeneous bidders. Using data from U ….S. Forest Service timber auctions, we document a set of systematic effects of auction format: sealed bid auctions attract more … extends the theory of private value auctions with heterogeneous bidders to capture participation decisions, that can account …
Persistent link: https://www.econbiz.de/10011607074
We conducted a controlled field experiment on eBay and examined to what extent both social and competitive laboratory behavior is robust to institutionally complex real world markets with experienced traders, who selected themselves into these markets. EBay's natural trading system provides...
Persistent link: https://www.econbiz.de/10010264320
We study entry and bidding patterns in sealed bid and open auctions with heterogeneous bidders. Using data from U ….S. Forest Service timber auctions, we document a set of systematic effects of auction format: sealed bid auctions attract more … extends the theory of private value auctions with heterogeneous bidders to capture participation decisions, that can account …
Persistent link: https://www.econbiz.de/10011325016
Persistent link: https://www.econbiz.de/10002994053
Persistent link: https://www.econbiz.de/10002994270
We extend Wilson (1979) share auction framework to model the uniform-price US Treasury auction as a two-stage multiple leader-follower game. We then explicitly derive the primary dealer's (follower) strategic choice of bids as a function of its customer's (leader) bids and show that an increase...
Persistent link: https://www.econbiz.de/10012893365
In the US spectrum auctions which allocate radio frequency rights to the private sector, firms are allowed to form … reinstated in future frequency auctions. My result corroborates findings of earlier empirical studies on joint bidding, conducted … in other types of auctions …
Persistent link: https://www.econbiz.de/10014345849
We study the interdependency between two markets, where the first involves offering production capacity, while on the second actual production is sold. The key issue is that the expected product market outcome determines the opportunity cost for bidding at the capacity market while the capacity...
Persistent link: https://www.econbiz.de/10009743582
Persistent link: https://www.econbiz.de/10003623505
Bidding in the last seconds or minutes of an auction is a common strategy in Internet auctions with fixed end …-times. This paper examines the three explanations of late bidding in eBay auctions that survived the first scrutiny in Roth and …
Persistent link: https://www.econbiz.de/10011599112