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Intraday markets for power : discretizing the continuous trading?
Neuhoff, Karsten; Ritter, Nolan; Abou el-Enien, Aymen Salah - 2016
implementation of the 3 pm local auction for quarters in Germany at the European Power Exchange (EPEX SPOT) in December 2014 to … challenges that are linked with a potential implementation of an intraday auction. …
Persistent link: https://www.econbiz.de/10011421880
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Estimating Inefficiency in Online Auctions
Hirose, Yohsuke - 2020
% of online auctions. Furthermore, we also find the probability of the inefficient online auction is more than 0.25 …
Persistent link: https://www.econbiz.de/10012839165
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Identification and Estimation of a Search Model : A Procurement Auction Approach
Myśliwski, Mateusz - 2017
We propose a non-sequential search model with a continuum of consumers and a finite number of firms. Both consumers and firms are heterogeneous. Consumers differ in search costs. Firms have private marginal costs of production. We show that an equilibrium price dispersion can arise in this model...
Persistent link: https://www.econbiz.de/10012956396
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Auctioning Annuities
Aryal, Gaurab; Fajnzylber, Eduardo; Gabrielli, Maria; … - 2021
We propose and estimate a model of demand and supply of annuities. To this end, we use rich data from Chile, where annuities are bought and sold in a private market via a two-stage process: first-price auctions followed by bargaining. We model firms with private information about costs and...
Persistent link: https://www.econbiz.de/10013238991
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Auctioning Annuities
Aryal, Gaurab; Fajnzylber, Eduardo; Gabrielli, M. Florencia - 2021
We propose and estimate a model of demand and supply of annuities. To this end, we use rich data from Chile, where annuities are bought and sold in a private market via a two-stage process: first-price auctions followed by bargaining. We model firms with private information about costs and...
Persistent link: https://www.econbiz.de/10013238992
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FAST: Fair Auctions via Secret Transactions
David, Bernardo; Gentile, Lorenzo; Pourpouneh, Mohsen - 2021
outcome of the auction before honest parties and may choose to make the protocol fail without suffering any consequences. In … jointly compute the winner of the auction while preserving the privacy of losing bids and ensuring that cheaters are … protocols guarantee that the winner is determined and the auction payments are completed even if the adversary misbehaves, so …
Persistent link: https://www.econbiz.de/10012440385
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Farmland values and bidder behavior in first-price land auctions
Croonenbroeck, Carsten; Odening, Martin; Hüttel, Silke - Agricultural Land Markets - Efficiency and Regulation - 2018
Within this paper, we aim to investigate asymmetries among bidders in land auctions that may entail non-competitive prices. Using representative data for Eastern Germany including winning bids, bidder characteristics, and land amenities, we pursue a structural approach to derive distributions of...
Persistent link: https://www.econbiz.de/10012012400
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Common values and unobserved heterogeneity in farmland auctions in Germany
Seifert, Stefan; Hüttel, Silke - Agricultural Land Markets - Efficiency and Regulation - 2020
In this paper, we test for the existence of a common component in agricultural land auctions in eastern Germany during the price boom 2007-2018 and discuss respective policy implications. Using a large, detailed dataset of auctions, we can rely on professional appraisals of the auctioned good...
Persistent link: https://www.econbiz.de/10012165347
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Identification of time and risk preferences in buy price auctions
Ackerberg, Daniel A.; Hirano, Keisuke; Shahriar, Quazi - In: Quantitative economics : QE ; journal of the … 8 (2017) 3, pp. 809-849
auction sites including eBay and General Motors Assistance Corporation. A buyer in a buy price auction can accept the buy … price to win with certainty and end the auction early. Intuitively, the buy price option may appeal to bidders who are risk … aversion and time preferences. We develop a private value model of bidder behavior in a buy price auction with a temporary buy …
Persistent link: https://www.econbiz.de/10011801642
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Nonparametric Estimation of Sponsored Search Auctions and Impacts of Ad Quality on Search Revenue
Kim, Dongwoo; Pal, Pallavi - 2023
information’ assumption. The ad value is characterized by a tractable analytical solution given observed auction parameters. Using … Yahoo! search auction data, we estimate value distributions and study the bidding behavior across product categories. We …
Persistent link: https://www.econbiz.de/10014259686