Download or read book Costly Auction Entry Royalty Payments and the Optimality of Asymmetric Designs written by and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Costly Auction Entry Royalty Payments and the Optimality of Asymmetric Designs written by Dan Bernhardt and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Asymmetric Optimal Auction Design with Loss Averse Bidders written by Akitoshi Muramoto and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study optimal auctions with expectation-based loss-averse bidders. We first consider when bidders are ex-ante identical. Although symmetric designs are optimal for bidders with expected-utility preferences, if the degree of loss aversion is sufficiently large relative to the variation in valuations, expected revenues are higher in the optimal design with one buyer than in any symmetric mechanism with multiple bidders. Further, we provide a sufficient condition under which optimal mechanisms are necessarily asymmetric. When bidders are ex-ante heterogeneous, the optimal degree of favoritism must be modified from the level in Myerson (1981) to reduce the uncertainty in auction outcomes. Not only the degree of the required modification but also the direction of the modification may not be monotone in the degree of loss aversion.
Download or read book Second Price Auctions with Private Entry Costs written by Todd R. Kaplan and published by . This book was released on 2006 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study asymmetric second-price auctions under incomplete information. The bidders have potentially different, commonly-known, valuations for the object and private information about their entry costs. The seller, however, does not benefit from these entry costs. We calculate the equilibrium strategies of the bidders and analyze the optimal design for the seller in this environment.
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 Oligopoly Auctions and Market Quality written by Krishnendu Ghosh Dastidar and published by Springer. This book was released on 2017-08-29 with total page 201 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an economic analysis of various aspects of ‘market quality’, a new concept which emerged in the 21st century, using the tools of ‘oligopoly theory’ and ‘auction theory’ that evolved over the 19th and 20th centuries. In the economics literature the link between the theories of oligopoly and auctions with market quality remains largely unexplored. This book attempts to forge such a link as it brings together relevant theoretical results in the literature on these topics under a unified framework. While the book is mainly theoretical in nature, it also discusses some specific issues related to the problems of market quality in emerging economies like India. Illustrated by carefully chosen examples, this book is highly recommended to readers who seek an in-depth and up-to-date integrated overview of the new field of market quality economics and are interested in some open research problems in this area. How should auctions and other allocation mechanisms be designed for oligopolistic industries to achieve such goals as efficiency, high-quality output and fast production? Krishnendu Ghosh Dastidar’s book offers novel analysis of this question and also some interesting answers. Highly recommended. Eric S. Maskin, Nobel laureate in Economics
Download or read book A Primer on Auction Design Management and Strategy written by David J. Salant and published by MIT Press. This book was released on 2014-12-19 with total page 199 pages. Available in PDF, EPUB and Kindle. Book excerpt: A guide to modeling and analyzing auctions, with the applications of game theory and auction theory to real-world auction decision making. Auctions are highly structured market transactions primarily used in thin markets (markets with few participants and infrequent transactions). In auctions, unlike most other markets, offers and counteroffers are typically made within a structure defined by a set of rigid and comprehensive rules. Because auctions are essentially complex negotiations that occur within a fully defined and rigid set of rules, they can be analyzed by game theoretic models more accurately and completely than can most other types of market transactions. This book offers a guide for modeling, analyzing, and predicting the outcomes of auctions, focusing on the application of game theory and auction theory to real-world auction design and decision making. After a brief introduction to fundamental concepts from game theory, the book explains some of the more significant results from the auction theory literature, including the revenue (or payoff) equivalence theorem, the winner's curse, and optimal auction design. Chapters on auction practice follow, addressing collusion, competition, information disclosure, and other basic principles of auction management, with some discussion of auction experiments and simulations. Finally, the book covers auction experience, with most of the discussion centered on energy and telecommunications auctions, which have become the proving ground for many new auction designs. A clear and concise introduction to auctions, auction design, and auction strategy, this Primer will be an essential resource for students, researchers, and practitioners.
Download or read book Fiscal Regimes for Extractive Industries Design and Implementation written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2012-08-16 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: Better designed and implemented fiscal regimes for oil, gas, and mining can make a substantial contribution to the revenue needs of many developing countries while ensuring an attractive return for investors, according to a new policy paper from the International Monetary Fund. Revenues from extractive industries (EIs) have major macroeconomic implications. The EIs account for over half of government revenues in many petroleum-rich countries, and for over 20 percent in mining countries. About one-third of IMF member countries find (or could find) resource revenues “macro-critical” – especially with large numbers of recent new discoveries and planned oil, gas, and mining developments. IMF policy advice and technical assistance in the field has massively expanded in recent years – driven by demand from member countries and supported by increased donor finance. The paper sets out the analytical framework underpinning, and key elements of, the country-specific advice given. Also available in Arabic: ????? ??????? ?????? ???????? ???????????: ??????? ???????? Also available in French: Régimes fiscaux des industries extractives: conception et application Also available in Spanish: Regímenes fiscales de las industrias extractivas: Diseño y aplicación
Download or read book Auctions written by Paul Klemperer and published by Princeton University Press. This book was released on 2018-06-05 with total page 263 pages. Available in PDF, EPUB and Kindle. Book excerpt: Governments use them to sell everything from oilfields to pollution permits, and to privatize companies; consumers rely on them to buy baseball tickets and hotel rooms, and economic theorists employ them to explain booms and busts. Auctions make up many of the world's most important markets; and this book describes how auction theory has also become an invaluable tool for understanding economics. Auctions: Theory and Practice provides a non-technical introduction to auction theory, and emphasises its practical application. Although there are many extremely successful auction markets, there have also been some notable fiascos, and Klemperer provides many examples. He discusses the successes and failures of the one-hundred-billion dollar "third-generation" mobile-phone license auctions; he, jointly with Ken Binmore, designed the first of these. Klemperer also demonstrates the surprising power of auction theory to explain seemingly unconnected issues such as the intensity of different forms of industrial competition, the costs of litigation, and even stock trading 'frenzies' and financial crashes. Engagingly written, the book makes the subject exciting not only to economics students but to anyone interested in auctions and their role in economics.
Download or read book Discovering Prices written by Paul Milgrom and published by Columbia University Press. This book was released on 2017-05-23 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt: Traditional economic theory studies idealized markets in which prices alone can guide efficient allocation, with no need for central organization. Such models build from Adam Smith’s famous concept of an invisible hand, which guides markets and renders regulation or interference largely unnecessary. Yet for many markets, prices alone are not enough to guide feasible and efficient outcomes, and regulation alone is not enough, either. Consider air traffic control at major airports. While prices could encourage airlines to take off and land at less congested times, prices alone do just part of the job; an air traffic control system is still indispensable to avoid disastrous consequences. With just an air traffic controller, however, limited resources can be wasted or poorly used. What’s needed in this and many other real-world cases is an auction system that can effectively reveal prices while still maintaining enough direct control to ensure that complex constraints are satisfied. In Discovering Prices, Paul Milgrom—the world’s most frequently cited academic expert on auction design—describes how auctions can be used to discover prices and guide efficient resource allocations, even when resources are diverse, constraints are critical, and market-clearing prices may not even exist. Economists have long understood that externalities and market power both necessitate market organization. In this book, Milgrom introduces complex constraints as another reason for market design. Both lively and technical, Milgrom roots his new theories in real-world examples (including the ambitious U.S. incentive auction of radio frequencies, whose design he led) and provides economists with crucial new tools for dealing with the world’s growing complex resource-allocation problems.
Download or read book Electricity Auctions written by Luiz Maurer and published by World Bank Publications. This book was released on 2011-07-25 with total page 181 pages. Available in PDF, EPUB and Kindle. Book excerpt: Electricity-contract auctions have been getting increased attention as they have emerged as a successful mechanism to procure new generation capacity and. This book presents a comprehensive overview of international experiences in auction design and implementation.
Download or read book Twenty Lectures on Algorithmic Game Theory written by Tim Roughgarden and published by Cambridge University Press. This book was released on 2016-08-30 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt: Computer science and economics have engaged in a lively interaction over the past fifteen years, resulting in the new field of algorithmic game theory. Many problems that are central to modern computer science, ranging from resource allocation in large networks to online advertising, involve interactions between multiple self-interested parties. Economics and game theory offer a host of useful models and definitions to reason about such problems. The flow of ideas also travels in the other direction, and concepts from computer science are increasingly important in economics. This book grew out of the author's Stanford University course on algorithmic game theory, and aims to give students and other newcomers a quick and accessible introduction to many of the most important concepts in the field. The book also includes case studies on online advertising, wireless spectrum auctions, kidney exchange, and network management.
Download or read book Patent Remedies and Complex Products written by C. Bradford Biddle and published by Cambridge University Press. This book was released on 2019-06-27 with total page 379 pages. Available in PDF, EPUB and Kindle. Book excerpt: Through a collaboration among twenty legal scholars from North America, Europe and Asia, this book presents an international consensus on the use of patent remedies for complex products such as smartphones, computer networks, and the Internet of Things. This title is also available as Open Access on Cambridge Core.
Download or read book The Economics of Innovation written by Roberto Cellini and published by Emerald Group Publishing. This book was released on 2008-06-30 with total page 231 pages. Available in PDF, EPUB and Kindle. Book excerpt: A collection of original research papers by a number of industrial organization economists active in the field of Research and Development theory and policy. It covers patent policy, the effects of market structure and the internal organization of the firm on R&D incentives and technical progress, and R&D cooperation and technological spillovers.
Download or read book White Space Is Not Your Enemy written by Kim Golombisky and published by CRC Press. This book was released on 2017-02-17 with total page 612 pages. Available in PDF, EPUB and Kindle. Book excerpt: White Space Is Not Your Enemy is a practical graphic design and layout guide that introduces concepts and practices necessary for producing effective visual communication across a variety of formats—from web to print. Sections on Gestalt theory, color theory, and WET layout are expanded to offer more in-depth content on those topics. This new edition features new covering current trends in web design—Mobile-first, UI/UX design, and web typography—and how they affect a designer’s approach to a project. The entire book will receive an update using new examples and images that show a more diverse set of graphics that go beyond print and web and focus on tablet, mobile and advertising designs.
Download or read book Do Stronger Intellectual Property Rights Increase International Technology Transfer written by Lee Branstetter and published by World Bank Publications. This book was released on 2004 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the alleged benefits of the recent global movement to strengthen intellectual property rights (IPRs) is that such reforms accelerate transfers of technology between countries. Branstetter, Fisman, and Foley examine how technology transfer among U.S. multinational firms changes in response to a series of IPR reforms undertaken by 12 countries over the 1982-99 period. Their analysis of detailed firm-level data reveal that royalty payments for intangibles transferred to affiliates increase at the time of reforms, as do affiliate research and development (R & D) expenditures and total levels of foreign patent applications. Increases in royalty payments and R & D expenditures are more than 20 percent larger among affiliates of parent companies that use U.S. patents more extensively prior to reform and therefore are expected to value IPR reform most. This paper--a product of Trade, Development Research Group--is part of a larger effort in the group to understand the global impact of stronger intellectual property rights.
Download or read book The American Economic Review written by and published by . This book was released on 1996 with total page 1110 pages. Available in PDF, EPUB and Kindle. Book excerpt: Includes papers and proceedings of the annual meeting of the American Economic Association. Covers all areas of economic research.
