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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 … we show how his pre-auction short position impacts his bidding behavior – in particular: the dealer's demand for the …
Persistent link: https://www.econbiz.de/10012905263
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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 … its bidding behavior in handling the risk of being short-squeezed or face the winner curse in the post-auction market …
Persistent link: https://www.econbiz.de/10012893365
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On the interaction between product markets and markets for production capacity : the case of the electricity industry
Richter, Jan - 2012
the spot market. -- capacity market ; procurement auction ; electricity market ; competitive equilibrium …
Persistent link: https://www.econbiz.de/10009743582
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Some evidence on late bidding in eBay auctions
Wintr, Ladislav - 2008
Persistent link: https://www.econbiz.de/10003623505
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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
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Behavioral biases of dealers in US Treasury auctions
Goldreich, David - 2004
Persistent link: https://www.econbiz.de/10002994270
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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 …
Persistent link: https://www.econbiz.de/10011599112
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Comparing open and sealed bid auctions : theory and evidence from timber auctions
Athey, Susan; Levin, Jonathan; Seira, Enrique - 2004
.S. Forest Service timber auctions, we document a set of systematic effects of auction format: sealed bid auctions attract more … for these qualitative effects of auction format. We then calibrate the model using parameters estimated from the data and … bidder competitiveness, which has important consequences for auction choice. …
Persistent link: https://www.econbiz.de/10011607074
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Behavioral biases of dealers in U.S. Treasury auctions
Goldreich, David - 2004
This paper provides evidence of bounded rationality by large dealers in U.S. Treasury auctions. I argue that these dealers use a heuristic of yield-space bidding which leads to biases manifested in three ways: they submit dominated bids, i.e., those that could be improved without raising the...
Persistent link: https://www.econbiz.de/10011607087
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Sex hormones and competitive bidding
Schipper, Burkhard - 2012
We correlate competitive bidding and profits in symmetric independent private value first-price auctions with salivary testosterone, estradiol, progesterone, and cortisol in more than 200 subjects. Females bid significantly higher and earn significantly lower profits than males. Moreover,...
Persistent link: https://www.econbiz.de/10009544159