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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
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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Menstrual cycle and competitive bidding
Pearson, Matthew; Schipper, Burkhard - 2009 - Rev.
; menstrual cycle ; gender ; likelihood of conception ; first price auction ; risk behavior ; competition ; bidding …
Persistent link: https://www.econbiz.de/10003878997
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Das Conservation Reserve Program : Erfahrungen und Perspektiven für die europäische Agrarumweltpolitik
Groth, Markus - 2009
Der langjährige Einsatz und die große Bedeutung des Conservation Reserve Program begründen seine Sonderstellung als marktorientierten Ansatz zur Honorierung von Umweltleistungen. Mit diesem Beitrag wird herausgearbeitet, welche Lehren aus dem Conservation Reserve Program für die...
Persistent link: https://www.econbiz.de/10003872510
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Preemptive bidding, target resistance, and takeover premiums
Dimopoulos, Theodosios; Sacchetto, Stefano - 2011
resistance. We develop an auction model that features costly sequential entry of bidders in takeover contests and that …
Persistent link: https://www.econbiz.de/10009375142
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Testing for equilibrium multiplicity in dynamic Markov games
Otsu, Taisuke; Pesendorfer, Martin; Takahashi, Yuya - 2013
This paper proposes several statistical tests for finite state Markov games to examine the null hypothesis that the data are generated from a single equilibrium. We formulate tests of (i) the conditional choice probabilities, (ii) the steady-state distribution of states and (iii) the conditional...
Persistent link: https://www.econbiz.de/10010199002