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A model of English auctions is proposed to incorporate the possibility of jump bidding. When two objects are sold separately via such auctions, bidders signal their willingness to pay via jump bids, thereby forming rational expectations of the prices without relying on any central mediator....
Persistent link: https://www.econbiz.de/10010588270
-unit simultaneous ascending auction. The global bidder wants to win both licenses to enjoy synergies; therefore, she bids more than her … the frequency of inefficient allocation in the simultaneous ascending auction. Then, we show that the Vickrey …-Clarke-Groves (VCG) mechanism may generate more revenue than the simultaneous ascending auction. …
Persistent link: https://www.econbiz.de/10010332442
trade at a fixed price before an auction. In the "Buy-It-Now" format, the seller offers a price prior to the auction …
Persistent link: https://www.econbiz.de/10011309645
their auction end at the evening, when many potential buyers may be online. …
Persistent link: https://www.econbiz.de/10010365875
auction with an additional buyer is conducted. The theoretical model predicts that with risk neutral agents all sales take … place in the auction rendering the negotiation prior to the auction obsolete. An experimental test of the model provides …
Persistent link: https://www.econbiz.de/10010365906
The purpose of this paper is to compare the two auction techniques (discriminatory and uniform-price auctions) most … auction. Theoretical models arrive at different rankings for expected revenue; however, they do reveal the relationship … between the bids submitted and the auction technique. These results are confirmed both by 'laborator' experiments and the …
Persistent link: https://www.econbiz.de/10010403041
a simple design initially enhances competition in the auction. Moreover, the procurer cannot benefit from using a multi …-dimensional auction, as the optimal scoring rule depends only on the price. …
Persistent link: https://www.econbiz.de/10011447525
Auctions with endogenous rationing have been introduced to stimulate competition. Such (procurement) auctions reduce the volume put out to tender when competition is low. This paper finds a strong negative effect of endogenous rationing on participation when bid-preparation is costly,...
Persistent link: https://www.econbiz.de/10012195628
In Buy-It-Now auctions, sellers can post a take-it-or-leave-it price offer prior to an auction. While the literature …
Persistent link: https://www.econbiz.de/10014477420
A model of English auction that allows jump bidding is proposed. When twoobjects are sold separately via such English …
Persistent link: https://www.econbiz.de/10009360839