Download or read book Position Auctions for Homogeneous Goods with Pricing and Consumer Search written by Sean Alexander Myers and published by . This book was released on 2013 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Auctions of Homogeneous Goods written by Marek Pycia and published by . This book was released on 2021 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: The pay-as-bid (or discriminatory) auction is a prominent format for selling homogenous goods such as treasury securities and commodities. We prove the uniqueness of its pure-strategy Bayesian Nash equilibrium and establish a tractable representation of equilibrium bids. Building on these results we analyze the optimal design of pay-as-bid auctions, as well as uniform-price auctions (the main alternative auction format), allowing for asymmetric information. We show that supply transparency and full disclosure are optimal in pay-as-bid, though not necessarily in uniform-price; pay-as-bid is revenue dominant and might be welfare dominant; and, under assumptions commonly imposed in empirical work, the two formats are revenue and welfare equivalent.
Download or read book Handbook of Game Theory and Industrial Organization Volume II written by Luis C. Corchón and published by Edward Elgar Publishing. This book was released on 2018-02-23 with total page 547 pages. Available in PDF, EPUB and Kindle. Book excerpt: This second volume of the Handbook includes original contribution by experts in the field. It provides up-to-date surveys of the most relevant applications of game theory to industrial organization. The book covers both classical as well as new IO topics such as mergers in markets with homogeneous and differentiated goods, leniency and coordinated effects in cartels and mergers, static and dynamic contests, consumer search and product safety, strategic delegation, platforms and network effects, auctions, environmental and resource economics, intellectual property, healthcare, corruption, experimental industrial organization and empirical models of R&D.
Download or read book Recent Advances in the Analysis of Competition Policy and Regulation written by Joseph E. Harrington and published by Edward Elgar Publishing. This book was released on 2012-01-01 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'This volume collects a number of original, cutting-edge contributions that take the reader swiftly and easily to the frontier of research on most of the current hot topics in industrial organization, antitrust and regulation. Skillfully edited by two outstanding leaders in the field, the volume will be a precious source for students, researchers and practitioners that need to figure out what research has achieved in recent years on these important policy issues.' Giancarlo Spagnolo, SITE Stockholm School of Economics and University of Tor Vergata, Sweden This state-of-the-art volume highlights important recent research contributions covering all the significant themes surrounding competition policy and regulation, including financial regulation and multisided markets. Bringing scholars and policymakers to the frontiers of research and addressing the critical issues of the day, the book presents original important new theoretical and empirical results. The distinguished contributors include: P. Agrel, K. Alexander, J. Crémer, X. Dassiou, G. Deltas, F. Etro, L. Filistrucchi, P. Fotis, M. Gilli, J. Harrington Jr, T. Huertas, M. Ivaldi, B. Jullien, V. Marques, M. Peitz, Y. Spiegel, E. Tarrantino and G. Wood. Recent Advances in the Analysis of Competition Policy and Regulation will prove insightful for academic economists, consultants and policymakers interested in these fields.
Download or read book Understanding Auctions written by Asunción Mochón and published by Springer. This book was released on 2014-09-15 with total page 161 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years, auctions have become an important field and many markets have designed new and sophisticated auction models to assign different types of items. The prime goal of this book is to set an organized classification of the main auction mechanisms in a way that readers can understand the importance of auction design and the advantages and drawbacks of each model. Given the relevance of the subject, there is a great volume of research about this topic. Nevertheless, most of these contributions use complex mathematical language difficult to understand for the average reader. In this book, the authors summarize the main ideas of the auction theory and explain them with simple language and plenty of examples. This book is a good starting point for any researcher interested in embracing the auction design as it also includes numerous real-world examples to engage the reader in the topic. “This book fills an important gap by making the main ideas and findings of auction research accessible.” Professor Paul Milgrom, Department of Economics, Stanford University.
Download or read book The Oxford Handbook of the Digital Economy written by Martin Peitz and published by Oxford University Press. This book was released on 2012-08-06 with total page 615 pages. Available in PDF, EPUB and Kindle. Book excerpt: The economic analysis of the digital economy has been a rapidly developing research area for more than a decade. Through authoritative examination by leading scholars, this handbook takes a closer look at particular industries, business practices, and policy issues associated with the digital industry. The volume offers an up-to-date account of key topics, discusses open questions, and provides guidance for future research. It offers a blend of theoretical and empirical works that are central to understanding the digital economy. The chapters are presented in four sections, corresponding with four broad themes: 1) infrastructure, standards, and platforms; 2) the transformation of selling, encompassing both the transformation of traditional selling and new, widespread application of tools such as auctions; 3) user-generated content; and 4) threats in the new digital environment. The first section covers infrastructure, standards, and various platform industries that rely heavily on recent developments in electronic data storage and transmission, including software, video games, payment systems, mobile telecommunications, and B2B commerce. The second section takes account of the reduced costs of online retailing that threatens offline retailers, widespread availability of information as it affects pricing and advertising, digital technology as it allows the widespread employment of novel price and non-price strategies (bundling, price discrimination), and auctions. The third section addresses the emergent phenomenon of user-generated content on the Internet, including the functioning of social networks and open source. The fourth section discusses threats arising from digitization and the Internet, namely digital piracy, privacy, and security concerns.
Download or read book Pricing in Position Auctions and Online Advertising written by M. Bumin Yenmez and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Can search engines increase revenues by changing their position auctions? In this paper, I analyze position auctions with general pricing rules to answer this question. In these auctions, there are several items that are commonly ranked by bidders with unit demand. I show that revenues remain the same for position auctions with regular pricing rules where the price for an item depends on the bids of agents who win lower-ranked items. In addition, all of the bidders also have the same ex post payo ffs. I also show that regularity is a necessary condition to get ex post payoff equivalence.
Download or read book Ascending price Multiple object Auctions written by Flavio M. Menezes and published by . This book was released on 1993 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Advances in Swarm Intelligence written by KAY CHEN TAN and published by Springer. This book was released on 2010-06-08 with total page 767 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book and its companion volume, LNCS vols. 6145 and 6146, constitute the proceedings of the International Conference on Swarm Intelligence (ICSI 2010) held in Beijing, the capital of China, during June 12-15, 2010. ICSI 2010 was the ?rst gathering in the world for researchers working on all aspects of swarm intelligence, and providedan academic forum for the participants to disseminate theirnewresearch?ndingsanddiscussemergingareasofresearch.Italsocreated a stimulating environment for the participants to interact and exchange inf- mation on future challenges and opportunities of swarm intelligence research. ICSI 2010 received 394 submissions from about 1241 authors in 22 countries and regions (Australia, Belgium, Brazil, Canada, China, Cyprus, Hong Kong, Hungary, India, Islamic Republic of Iran, Japan, Jordan, Republic of Korea, Malaysia, Mexico, Norway, Pakistan, South Africa, Chinese Taiwan, UK, USA, Vietnam) across six continents (Asia, Europe, North America, South America, Africa, and Oceania). Each submission was reviewed by at least three reviewers. Based on rigorous reviews by the Program Committee members and reviewers, 185 high-quality papers were selected for publication in the proceedings with the acceptance rate of 46.9%. The papers are organized in 25 cohesive sections covering all major topics of swarm intelligence research and development.
Download or read book The New Palgrave Dictionary of Economics written by and published by Springer. This book was released on 2016-05-18 with total page 7493 pages. Available in PDF, EPUB and Kindle. Book excerpt: The award-winning The New Palgrave Dictionary of Economics, 2nd edition is now available as a dynamic online resource. Consisting of over 1,900 articles written by leading figures in the field including Nobel prize winners, this is the definitive scholarly reference work for a new generation of economists. Regularly updated! This product is a subscription based product.
Download or read book Auctions of Homogeneous Goods with Increasing Returns written by Elena Katok and published by . This book was released on 2005 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most business-to-business (B2B) auctions are used to transact large quantities of homogeneous goods, and therefore use multiunit mechanisms. In the B2B context, bidders often have increasing returns to scale, or synergies. We compare two commonly used auction formats for selling multiple homogeneous objects, both sometimes called Dutch auctions, in a set of value environments that include synergies and potentially subject bidders to the exposure and free-riding problems. We find that the descending-price auction, best known for its use in the Dutch flower auctions, is robust and performs well in a variety of environments, although there are some situations in which the ascending uniform-price auction similar to the one used by eBay better avoids the free-riding problem. We discuss the factors that influence each mechanism's performance in terms of the overall efficiency, the informational requirements, the seller's revenue, and the buyer's profit.
Download or read book Threshold Auctions of Multiple Homogeneous Goods written by Ryan Keith French and published by . This book was released on 2010 with total page 106 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Nonlinear Prices Homogenous Goods Search written by Atabek Atayev and published by . This book was released on 2021 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Measuring the Impact of Price Matching Guarantees on Price Dispersion and Willingness to Pay in Auctions written by Ernan Haruvy and published by . This book was released on 2015 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: A price matching guarantee (PMG) is a promise to match a competitor's lower price. A price beating guarantee (PBG) is a promise to beat that price. This study presents a large-scale controlled field experiment involving pairs of simultaneous auctions to examine the impact of the presence versus absence of PMGs and PBGs on consumer search, price dispersion, and willingness to pay for products. Results indicate that consumers switch less between auctions when either a PMG or a PBG is present compared to auction pairs without a price guarantee. Less switching results in higher price dispersion for auctions with either a PMG or a PBG. On average, selling prices are higher in auctions with a PMG or a PBG than in identical auctions without a PMG or a PBG. Bidder entry is higher in auctions that provide a PBG.
Download or read book Industrial Organization written by Paul Belleflamme and published by Cambridge University Press. This book was released on 2015-07-30 with total page 827 pages. Available in PDF, EPUB and Kindle. Book excerpt: Thoroughly revised according to classroom feedback, Industrial Organization: Markets and Strategies offers an up-to-date and rigorous presentation of modern industrial organization that blends theory with real-world applications and derives implications for firm strategy and competition policy. This comprehensive textbook acquaints readers with the most important models for understanding strategies chosen by firms with market power and shows how such firms adapt to different market environments. The second edition includes new and revised formal models and case studies. Formal models are presented in detail, and analyses are summarized in 'lessons' which highlight the main insights. Theories are complemented by numerous real-world cases that engage students and lead them to connect theories to real situations. Chapters include review questions, exercises, and suggestions for further reading to enhance the learning experience, and an accompanying website offers additional student exercises, as well as teaching slides.
Download or read book Experimental Auctions Methods and Applications in Economic and Marketing Research written by Jayson Lusk and published by . This book was released on 2014-05-14 with total page 318 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economists, psychologists, and marketers are interested in determining the monetary value people place on non-market goods for a variety of reasons: to carry out cost-benefit analysis, to determine the welfare effects of technological innovation or public policy, to forecast new product success, and to understand individual and consumer behavior. Unfortunately, many currently available techniques for eliciting individuals' values suffer from a serious problem in that they involve asking individuals hypothetical questions about intended behavior. Experimental auctions circumvent this problem because they involve individuals exchanging real money for real goods in an active market. This represents a promising means for eliciting non-market values. Lusk and Shogren provide a comprehensive guide to the theory and practice of experimental auctions. It will be a valuable resource to graduate students, practitioners and researchers concerned with the design and utilization of experimental auctions in applied economic and marketing research.
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.
