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Comparing open and sealed bid auctions : theory and evidence from timber auctions

Athey, Susan; Levin, Jonathan; Seira, Enrique - 2004

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

Comparing Open and Sealed Bid Auctions: Theory and Evidence from Timber Auctions

Levin, Jonathan; Athey, Susan; Seira, Enrique - 2004

Persistent link: https://www.econbiz.de/10011325016

Does laboratory trading mirror behavior in real world markets?: fair bargaining and competitive bidding on EBay

Bolton, Gary E.; Ockenfels, Axel - 2008

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

Pre-Auction Short Positions and Impacts on Primary Dealers' Bidding Behavior in US Treasury Auctions

Tchuindjo, Leonard - 2019

We model the uniform-price US Treasury security auction as a static symmetric game of incomplete information in which each payer is a primary dealer who submits a demand schedule given two independent sources of private information – his pre-auction short position of the auctioned security,...

Persistent link: https://www.econbiz.de/10012905263

Informational Advantage in US Treasury Auctions

Tchuindjo, Leonard - 2019

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

On the interaction between product markets and markets for production capacity : the case of the electricity industry

Richter, Jan - 2012

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

Some evidence on late bidding in eBay auctions

Wintr, Ladislav - 2008

Persistent link: https://www.econbiz.de/10003623505

Comparing open and sealed bid auctions : theory and evidence from timber auctions

Athey, Susan; Levin, Jonathan; Seira, Enrique - 2004

Persistent link: https://www.econbiz.de/10002994053

Behavioral biases of dealers in US Treasury auctions

Goldreich, David - 2004

Persistent link: https://www.econbiz.de/10002994270

Some evidence on late bidding in eBay auctions

Wintr, Ladislav - 2008

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

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