Download or read book Auction Format Matters written by Robert Feldman and published by . This book was released on 2006 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper evaluates the importance of auction format on bidding behavior and seller revenue, focusing on differences in performance under uniform-price and discriminatory-price formats. The analysis is based on a standard benchmark model from which empirically-testable hypotheses are derived on the optimal amount of bid shading that generates revenue equivalence between the two formats. Applying this model to data from the IMF gold auctions run in 1976-80, we find evidence of statistically significant shading in excess of the theoretically-derived optimum under the discriminatory format. This evidence suggests greater seller revenue under the uniform-price format.

Download or read book Auction Format Matters written by Mr.Robert Alan Feldman and published by International Monetary Fund. This book was released on 1995-05 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper evaluates the importance of auction format on bidding behavior and seller revenue, focusing on differences in performance under uniform-price and discriminatory-price formats. The analysis is based on a standard benchmark model from which empirically-testable hypotheses are derived on the optimal amount of bid shading that generates revenue equivalence between the two formats. Applying this model to data from the IMF gold auctions run in 1976-80, we find evidence of statistically significant shading in excess of the theoretically-derived optimum under the discriminatory format. This evidence suggests greater seller revenue under the uniform-price format.

Download or read book Auction Format Matters written by Robert A. Feldman and published by . This book was released on 1995 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Treasury Bill Auctions written by Mr.Carlo Cottarelli and published by International Monetary Fund. This book was released on 1994-11-01 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: We review the main issues that arise in the design of treasury bill auctions and survey the relevant empirical literature. We also provide a detailed description of the actual design of these auctions in a sample of 42 industrial and developing countries.

Download or read book Putting Auction Theory to Work written by Paul Milgrom and published by Cambridge University Press. This book was released on 2004-01-12 with total page 378 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a comprehensive introduction to modern auction theory and its important new applications. It is written by a leading economic theorist whose suggestions guided the creation of the new spectrum auction designs. Aimed at graduate students and professionals in economics, the book gives the most up-to-date treatments of both traditional theories of 'optimal auctions' and newer theories of multi-unit auctions and package auctions, and shows by example how these theories are used. The analysis explores the limitations of prominent older designs, such as the Vickrey auction design, and evaluates the practical responses to those limitations. It explores the tension between the traditional theory of auctions with a fixed set of bidders, in which the seller seeks to squeeze as much revenue as possible from the fixed set, and the theory of auctions with endogenous entry, in which bidder profits must be respected to encourage participation.

Download or read book Auctions written by Timothy P. Hubbard and published by MIT Press. This book was released on 2016-01-06 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt: How auctions work, in theory and practice, with clear explanations and real-world examples that range from government procurement to eBay. Although it is among the oldest of market institutions, the auction is ubiquitous in today's economy, used for everything from government procurement to selling advertising on the Internet to course assignment at MIT's Sloan School. And yet beyond the small number of economists who specialize in the subject, few people understand how auctions really work. This concise, accessible, and engaging book explains both the theory and the practice of auctions. It describes the main auction formats and pricing rules, develops a simple model to explain bidder behavior, and provides a range of real-world examples. The authors explain what constitutes an auction and how auctions can be modeled as games of asymmetric information—that is, games in which some players know something that other players do not. They characterize behavior in these strategic situations and maintain a focus on the real world by illustrating their discussions with examples that include not just auctions held by eBay and Sotheby's, but those used by Google, the U.S. Treasury, TaskRabbit, and charities. Readers will begin to understand how economists model auctions and how the rules of the auction shape bidder incentives. They will appreciate the role auctions play in our modern economy and understand why these selling mechanisms are so resilient.

Download or read book EBay Secrets written by Steven Ellis White and published by Krug Industries, Inc.. This book was released on 2004-03 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: Do you want to make more money on eBay (or any other Internet auction site)? Or, are you looking for an easy second income? Thousands of new users are joining eBay every day. You can take advantage of this trend and make a lot of money. But before you get started, there are some things you need to know. eBay Secrets will walk you though the steps to getting your Internet auction business rolling. It is packed full of tips and secrets that will help you get more money for your auction listings. eBay Secrets is based on the techniques that Steve White has been teaching students in his exclusive seminars on making money on eBay. Never before have all of Mr. White's powerful money-making secrets been available in book format. Here are just a few of the topics that are covered in the book:? The two most important secrets to making money on eBay.? 14 places to find cheap things to sell? 15 techniques to increase the number of bids you get? Three things you should NEVER do in an eBay listing? Ten tricks that will make your listings much more effective? The best starting bid for your items? Why your title is critical? A three-step process to find the perfect title? Four words to include in your titles to get even more money for your items? The best time to list your items? Why you should never use a reserve? The one thing that you should never mention in the description? Which listing options are worth the extra cost? How to avoid paying to have pictures in your listings? The only eight things that you need to get started making money on eBay? Seven ways you can get started with no money? Why user feedback is misleading? How to write a description that gets more bids? Everything you need to know about writing HTML in your listings? What to charge for shipping? A printable checklist so you never forget any steps when creating listings? Four email templates for common situations? What to do if someone doesn't pay? Examples of the best and worst auctions? And much, much more ...

Download or read book Flexible Estimation of Demand Schedules and Revenue Under Different Auction Formats written by Mr.Robert Alan Feldman and published by International Monetary Fund. This book was released on 1995-11-01 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and national and international economic developments.

Download or read book Modeling Online Auctions written by Wolfgang Jank and published by John Wiley & Sons. This book was released on 2010-12-01 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: Explore cutting-edge statistical methodologies for collecting, analyzing, and modeling online auction data Online auctions are an increasingly important marketplace, as the new mechanisms and formats underlying these auctions have enabled the capturing and recording of large amounts of bidding data that are used to make important business decisions. As a result, new statistical ideas and innovation are needed to understand bidders, sellers, and prices. Combining methodologies from the fields of statistics, data mining, information systems, and economics, Modeling Online Auctions introduces a new approach to identifying obstacles and asking new questions using online auction data. The authors draw upon their extensive experience to introduce the latest methods for extracting new knowledge from online auction data. Rather than approach the topic from the traditional game-theoretic perspective, the book treats the online auction mechanism as a data generator, outlining methods to collect, explore, model, and forecast data. Topics covered include: Data collection methods for online auctions and related issues that arise in drawing data samples from a Web site Models for bidder and bid arrivals, treating the different approaches for exploring bidder-seller networks Data exploration, such as integration of time series and cross-sectional information; curve clustering; semi-continuous data structures; and data hierarchies The use of functional regression as well as functional differential equation models, spatial models, and stochastic models for capturing relationships in auction data Specialized methods and models for forecasting auction prices and their applications in automated bidding decision rule systems Throughout the book, R and MATLAB software are used for illustrating the discussed techniques. In addition, a related Web site features many of the book's datasets and R and MATLAB code that allow readers to replicate the analyses and learn new methods to apply to their own research. Modeling Online Auctions is a valuable book for graduate-level courses on data mining and applied regression analysis. It is also a one-of-a-kind reference for researchers in the fields of statistics, information systems, business, and marketing who work with electronic data and are looking for new approaches for understanding online auctions and processes. Visit this book's companion website by clicking here

Download or read book Auction Theory written by Pak-Sing Choi and published by Springer Nature. This book was released on 2021-05-24 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: This textbook provides a short introduction to auction theory through exercises with detailed answer keys. Focusing on practical examples, this textbook offers over 80 exercises that predict bidders’ equilibrium behaviour in different auction formats, along with the seller’s strategic incentives to organize one auction format over the other. The book emphasizes game-theoretic tools, so students can apply similar tools to other auction formats. Also included are several exercises based on published articles, with the model reduced to its main elements and the question divided into several easy-to-answer parts. Little mathematical background in algebra and calculus is assumed, and most algebraic steps and simplifications are provided, making the text ideal for upper undergraduate and graduate students. The book begins with a discussion of second-price auctions, which can be studied without using calculus, and works through progressively more complicated auction scenarios: first-price auctions, all-pay auctions, third-price auctions, the Revenue Equivalence principle, common-value auctions, multi-unit auctions, and procurement auctions. Exercises in each chapter are ranked according to their difficulty, with a letter (A-C) next to the exercise title, which allows students to pace their studies accordingly. The authors also offer a list of suggested exercises for each chapter, for instructors teaching at varying levels: undergraduate, Masters, Ph.D. Providing a practical, customizable approach to auction theory, this textbook is appropriate for students of economics, finance, and business administration. This book may also be used for related classes such as game theory, market design, economics of information, contract theory, or topics in microeconomics.

Download or read book Do Auctioneers Matter in Determining Auction Outcomes written by Mario Alejandro Capizzani and published by . This book was released on 2009 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book FCC Record written by United States. Federal Communications Commission and published by . This book was released on 2014-10 with total page 934 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book What Really Matters in Auction Design written by Paul Klemperer and published by . This book was released on 2000 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book An Introduction to Auction Theory written by Flavio M. Menezes and published by Oxford University Press, USA. This book was released on 2005 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a step-by-step, self-contained treatment of auction theory and aims to provide an introductory treatment to allow students to work through all the basic results. The techniques and insights gained provide a useful starting point for those wanting to venture into information economics, mechanism design and regulatory economics.

Download or read book Everyday eBay written by Ken Hillis and published by Routledge. This book was released on 2012-12-06 with total page 319 pages. Available in PDF, EPUB and Kindle. Book excerpt: Everyday eBay is the first scholarly analysis of the internet marketplace that has become a global social, cultural and economic phenomenon. The eighteen new and classic essays gathered here examine eBay from a wide variety of perspectives as a bellwether of taste and material culture; as a rich site of cultural, racial, and sexual discourse and practice; as an emergent media form; and as a facilitator of global consumerism. From old toys steeped in nostalgia to 'rare' limited edition shoes, the contributors demonstrate that value on eBay is never simply about 'price'. On any given day, more than two million items are listed for sale on eBay, from everyday objects to kitsch and collectibles to the truly bizarre. Since its debut ten years ago, eBay has quickly become a central destination for millions of web browsers. According to eBay itself, up to 165,000 Americans now make their living by selling through the website, and other business analysts project that hundreds of thousands of individuals worldwide now make their living through eBay.

Download or read book The e Auction Insider How to Get the Most Out of Your Online Experience written by Dave Taylor and published by McGraw Hill Professional. This book was released on 2000-07-05 with total page 351 pages. Available in PDF, EPUB and Kindle. Book excerpt: Get expert advice on becoming a successful online auction buyer and seller! This book tells you all about eBay, Amazon, FairMarket, and other popular auction sites and explains how to bid on items, offer your own merchandise for auction, get the best price, and close the deal.

Download or read book Understanding Auctions written by Srobonti Chattopadhyay and published by Routledge. This book was released on 2019-07-03 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book elaborates the basic principles of Auction Theory in a non-technical language so as to make them easily accessible to even those not trained in the discipline. Auctions as allocation mechanisms have been in use across the world since antiquity and are still employed in different countries for purchase and sales of a wide range of objects, both by governments and by private agents. Auction has gained popularity over other allocation mechanisms since the rules of auctions are very precise, involve much less subjective judgements compared to other alternative allocation mechanisms and lead to a more efficient process of discovering the true willingness of the buyers to pay. Moreover, the principles of Auction Theory are used in other contexts, for example in designing contests, or in controlling emission levels through allocation of permits and licenses.