منابع مشابه
Auctions with options to re-auction
We examine a dynamic model of English auctions with independent private values. There is a single object for sale and it is not possible for the seller, who has a value of zero for the object, to commit not to sell in the future if a sale is not accomplished today. The seller may be able to commit to a reserve price, or make a cheap-talk announcement of a reserve price and secretly bid for the ...
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Ascending auctions with package bidding and their economic uses are explained and the main results of recent FCC-sponsored experiments with such auctions are summarized. A benchmark model is formulated that accounts for the experimental results. In the benchmark, if each bidder bids “straightforwardly” at each round for its potentially most profitable package, then the total payoff is approxima...
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We examine the mechanism design problem for a single buyer to procure purchase-options for a homogeneous good when that buyer is required to satisfy an unknown future demand. Suppliers have 2dimensional types in the form of commitment costs and production costs. The efficient schedule of options depends on the distribution of demand. To implement an efficient outcome, we introduce a class of me...
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Peter Cramton is grateful to the National Science Foundation for its financial support. Suzi Kerr would like to thank Boaz Moselle, Rob Stavins, Ian Parry, Larry Goulder, and the members of the Greenhouse Gas Emissions Trading Braintrust, and gratefully acknowledges funding provided to her under a cooperative agreement between the US Environmental Protection Agency’s Office of Policy, Planning ...
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The German UMTS-Auction in August 2000 attracted, like similar auctions in Great Britain and The Netherlands earlier in the year 2000, a lot of public attention and money. At this auction 4 to 6 licenses to offer third generation cell-phone service in Germany were on the block to be sold, raising a total revenue of 98,8072 BDM. The publicity surrounding the auction is as good an excuse as any t...
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ژورنال
عنوان ژورنال: International Journal of Economic Theory
سال: 2006
ISSN: 1742-7355,1742-7363
DOI: 10.1111/j.1365-2966.2006.0022.x