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where inputs are procured via auction-like “requests for proposal.” For example, Drennan et al (2020) reports that a model …
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studied for non-rivalrous goods. I examine an auction framework where the good sold can be used simultaneously by multiple … bidders if their use does not conflict with others; this simultaneous use directly affects the efficiency of the auction. A … price auction over non-conflicting groups and examine how non-rivalry impacts both efficiency and collusion. Conditions are …
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This paper characterizes the optimal first-price auction (FPA) and second-price auction (SPA) for selling rights … common knowledge, except that bidders have private degrees of aversion to downside-risk. In this model, the optimal FPA … risk or risk aversion generally leads to lower equilibrium bids. …
Persistent link: https://www.econbiz.de/10011374400
Buyer-seller networks where price is determined by an ascending-bid auction are important in many economic examples … sellers are better off not participating in the auction. We consider what happens if sellers can make a take it or leave it … offer to one of their linked buyers before the auction takes place and thus such a seller can choose not to participate in …
Persistent link: https://www.econbiz.de/10011550488
We consider two mechanisms to procure differentiated goods: a request for quote and an English auction with bidding … the seller who offers the greatest difference in quality and price. In the English auction with bidding credits, the buyer … English auction with the winner receiving the auction price and his bidding credit. Game theoretic models predict the request …
Persistent link: https://www.econbiz.de/10013130629
Buyer-seller networks where price is determined by an ascending-bid auction are important in many economic examples … sellers are better off not participating in the auction. We consider what happens if sellers can make a take it or leave it … offer to one of their linked buyers before the auction takes place and thus such a seller can choose not to participate in …
Persistent link: https://www.econbiz.de/10013022524
as auction mechanisms are being explored in more depth. The typical data utilized in such studies involves repeated … measures of auction outcomes, where the variable of interest involves order statistics from the sample of bids from many bids … auctions for a relatively homogeneous good, computer monitors sold on eBay. We discuss how outcomes of the auction mechanism …
Persistent link: https://www.econbiz.de/10014201221