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’ bid. Equilibrium behavior in the first-price auction is mostly unaffected but there are multiple equilibria in the second …- price auction. Consequently, comparative statics across price rules are equivocal. Experimentally, leaks in the first- price … auction favor second movers but harm first movers and sellers, as theoretically predicted. Low to medium leak probabilities …
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by decisions are involved in the decision-making process. A single-round auction mechanism focused on optimizing the …
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Many immigrant destination countries face considerable pressure to change their immigration policies. One of the most innovative policies is auctioning the right to immigrate or to hire a foreign worker to the highest bidders. Visa auctions would be more efficient than current ways of allocating...
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academic interest in art, understanding of auction prices is limited. Price intransparency is exacerbated by contrasting … is no comprehensive theory of auction prices that combines both perspectives. To fill this gap, the author conducts three … ambiguities between theory and practice and elucidate the role of marketing for auction prices. The result is a conceptual …
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