Although the Internet is great for transferring information, transactions in Internet auctions have a greater information asymmetry than corresponding transactions in traditional environments because current auction market mechanisms allow the seller to remain anonymous and to easily change identities. Buyers must rely on the seller's description of a product and ability to deliver the product ...

* Paper to appear as Chapter 1 in the book " Auctioning Public Assets " edited by Maarten Janssen, to be published by Cambridge University Press. We are grateful to Maarten for inviting us to write this survey. Preparing the survey has made us painfully aware of the gaps in our knowledge of the auction literature and we apologize for all errors and omissions. Tilman Börgers gratefully acknowled...

The purpose of this writing is to analyze the auction mechanism for executing mortgages from banks, role KPKNL in carrying out execution and obstacles faced by auction. research method used normative juridical. data comes secondary which primary legal materials, materials tertiary are then analyzed qualitatively. results first study, that mortgage rights carried creditors submitting an applicat...

Credit-event auctions were introduced in 2005 to facilitate cash settlement in the credit default swap market following a credit event. The auctions have a novel and complex structure that makes them distinct from other auction forms. This paper studies outcomes in credit-event auctions over the period 2008-10. We find that the auction price has a significant bias relative to the preand post-au...

On 1 April 2011, 110 stakeholders in the Medicare Durable Medical Equipment (DME) industry came to the University of Maryland to discuss how the CMS’ current competitive bidding program could be improved. The participants included Medicare providers, government leaders, and auction experts. A major part of the event was the conduct of a mock auction based on the auction design proposed in Cramt...

the subject of divine will is discussed in three views of imammieh, moatazeleh, and ashaereh scholars. in views of them, god has will, however, there are differences between their beliefs: is divine will a substance attribute or an attribute surplus to substance is divine will an ancient or created attribute is divine will an affirmative or privative attribute is divine will a real or unreal at...

We present a dynamic unit-demand auction that supports arbitrary bid revision. Each round of the dynamic auction takes a tentative allocation and pricing as part of the input, and allows each bidder — including a tentatively allocated bidder — to submit an arbitrary unit-demand bid. We establish strong properties of the dynamic auction related to truthfulness and efficiency. Using a certain pri...

Abstract We study three alternative implementations of the Vickrey (1961) multi-unit demand auction: Vickrey’s original static sealed-bid auction and two dynamic alternatives, with and without public dropout information reported during the auction (Ausubel, 2004). Although implemented by a weaker solution concept, behavior in the dynamic Vickrey auction with the public dropout information comes...

The generalized Vickrey auction (GVA) is a strategy-proof combinatorial auction, in which truthful bidding is the optimal strategy for an agent. In this paper we address a fundamental problem with the GVA, which is that it requires agents to compute and reveal their values for all combinations of items. This can be very difficult for bounded-rational agents with limited or costly computation. W...