Transparency in Buyer-Determined Auctions: Should Quality be Private or Public?
نویسندگان
چکیده
منابع مشابه
Should Auctions be Transparent?
We investigate the role of market transparency in repeated first-price auctions. We consider a setting with independent private and persistent values. We analyze three distinct disclosure regimes regarding the bid and award history. In the minimal disclosure regime each bidder only learns privately whether he won or lost the auction. In equilibrium the allocation is efficient and the minimal di...
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Buyer-seller networks where price is determined by an ascending-bid auction are important in many economic examples such as certain real estate markets, radio spectrum sharing, and buyer-supplier networks. However, it may be that some 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 be...
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ژورنال
عنوان ژورنال: Production and Operations Management
سال: 2017
ISSN: 1059-1478
DOI: 10.1111/poms.12736