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We develop a test for common values in auctions in which some bidders possess information about rivals’ bids. This information causes a bidder to bid differently when she has a private value than when her value depends on rivals’ information. In a divisible good setting, such as treasury...
Persistent link: https://www.econbiz.de/10009141768
Several important auction settings, including treasury auctions in Canada and the U.S., have the feature that some …
Persistent link: https://www.econbiz.de/10009141824
of the FBA design removes the inefficiency by allowing traders to submit orders conditional on auction excess demand. …
Persistent link: https://www.econbiz.de/10013165302
statistically significant impact on the Treasury futures market. The occurrence of an auction, which increases supply in the …
Persistent link: https://www.econbiz.de/10012849805
designed auction would (i) allocate the license to the most efficient bidder; (ii) sell the license if and only if new nuclear …. Requiring licensees to sell a share of capacity as virtual power plant contracts increases auction efficiency by softening …
Persistent link: https://www.econbiz.de/10009410524
authority has a reservation price and decides to either reveal or hide it before the auction takes place. We find that when the … private reservation price scheme. Moreover, we show that‚ auction results in less slots being traded than would have been …
Persistent link: https://www.econbiz.de/10012942912
Environmental Protection Agency (EPA)'s Clean Power Plan. Auction-based approaches, like those used in the Northeast U.S. and … provides the results from a controlled laboratory experiment of an auction-based emissions market in the electricity sector …
Persistent link: https://www.econbiz.de/10012934425
distributors in an auction setting. Utilizing data on 814,000 public procurement auctions in Russia, I identify the causal effect … participating in a procurement auction negotiate with upstream producers. In the equilibrium, foreclosure explains the former … estimation of producer and distributor costs for drugs with two producers. Simulations show that a vertical merger with a synergy …
Persistent link: https://www.econbiz.de/10014079980
The buyer solicits bids from suppliers with different cost distributions defined by their capacities. The expected market share of each supplier is the ratio of its capacity to the industry capacity. The buyer's optimal reserve price declines with increases in the concentration of the industry....
Persistent link: https://www.econbiz.de/10014118024
We conducted a controlled field experiment on eBay and examined to what extent both social and competitive laboratory behavior is robust to institutionally complex real world markets with experienced traders, who selected themselves into these markets. EBay's natural trading system provides...
Persistent link: https://www.econbiz.de/10010264320