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Preisregeln für Auktionen und Ausschreibungen: Eine Diskussion

Wolfstetter, Elmar - Sonderforschungsbereich 373, Quantifikation und … - 1995

Dieser Diskussionsbeitrag kommentiert Güths axiomatische Begründung der Zweit-Preis-Auktion. In diesem Zusammenhang wird auch Güths umfangreiche Analyse der Lambda-Auktion durch eine einfache und anschaulich interpretierbare Lösung ersetzt.

Persistent link: https://www.econbiz.de/10010983668

Divisionalization in contests

Huck, Steffen; Konrad, Kai A.; Müller, Wieland - Sonderforschungsbereich 373, Quantifikation und … - 2000

To be represented by more than one contestant in a contest has advantages and disadvantages. This paper determines the conditions under which it is favorable to send several agents into the contest.

Persistent link: https://www.econbiz.de/10010983690

Merger in contests

Huck, Steffen; Konrad, Kai A.; Müller, Wieland - Sonderforschungsbereich 373, Quantifikation und … - 2000

Competition in some markets is a contest. This paper studies the merger incentives in such markets. Merger can be …

Persistent link: https://www.econbiz.de/10010983725

Auctions and fair division games under different price rules: Individual bid functions, prices and efficiency rates

Güth, Werner; Ivanova-Stenzel, Radosveta; Königstein, … - Sonderforschungsbereich 373, Quantifikation und … - 1999

In auctions an outside seIler offers a commodity for sale and collects the revenue w hich is achieved. In fair division games the object is owned by the group of bidders. Consequently the auction's revenue is equally distributed among all bidders. In our experiment participants face four auction...

Persistent link: https://www.econbiz.de/10010983762

Privately contributing to public goods over time: An experimental study

Güth, Werner; Levati, Maria Vittoria; Stiehler, Andreas - Sonderforschungsbereich 373, Quantifikation und … - 2002

Similar to Levati and Neugebauer (2001), a clock is used by which participants can vary their individual contributions for voluntarily providing a public good. As time goes by, participants either in(de)crease their contribution gradually or keep it constant. Groups of two poorly and two richly...

Persistent link: https://www.econbiz.de/10010983833

The role of interbank relationships and liquidity needs

Craig, Ben R.; Fecht, Falko; Tümer-Alkan, Günseli - Deutsche Bundesbank - 2013

In this paper, we focus on the interconnectedness of banks and the price they pay for liquidity. We assess how the concentration of credit relationships and the position of a bank in the network topology of the system influence the bank's ability to meet its liquidity demand. We use quarterly...

Persistent link: https://www.econbiz.de/10010984730

Auctions that are too good to be true

Decarolis, Francesco; Klein, Michael - Frankfurt School of Finance and Management - 2012

Auctions are supposed to procure the best deal money can buy. Yet, practitioners who procure complex contracts by auction are well aware of some basic pitfalls. One concern is that winning bids may not reflect the quality of the bidder but strategic behavior like low-balling bids or...

Persistent link: https://www.econbiz.de/10010985128

Do pay-as-bid auctions favor collusion? Evidence from Germany's market for reserve power

Heim, Sven; Götz, Georg - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2013

We analyze a drastic price increase in the German auction market for reserve power, which did not appear to be driven by increased costs. Studying the market structure and individual bidding strategies, we find evidence for collusive behavior in an environment with repeated auctions, pivotal...

Persistent link: https://www.econbiz.de/10010985633

Trading mechanisms and market frictions. Microstructure of the financial markets

Havran, Dániel; Erb, Tamás - In: Közgazdasági Szemle (Economic Review - monthly of the … LXII (2015) 3, pp. 229-262

the microstructure of financial markets in describing the various trading mechanisms under market frictions. The analysis … is confined to markets in secondary financial assets. Within a unified microeconomic framework, the authors introduce the … most common approaches of decentralized market-trading theories such as search and bargaining, middlemen, and trading in …

Persistent link: https://www.econbiz.de/10011200132

Reserve Price Effects in Auctions: Estimates from Multiple RD Designs

Choi, Syngjoo; Nesheim, Lars; Rasul, Imran - C.E.P.R. Discussion Papers - 2015

We present evidence from 260,000 online auctions of second-hand cars to identify the impact of public reserve prices on auction outcomes. We exploit multiple discontinuities in the relationship between reserve prices and vehicle characteristics to present causal RD estimates of reserve price...

Persistent link: https://www.econbiz.de/10011201354