Download or read book Common Value Auctions and the Winner s Curse written by John H. Kagel and published by Princeton University Press. This book was released on 2021-04-13 with total page 419 pages. Available in PDF, EPUB and Kindle. Book excerpt: An invaluable account of how auctions work—and how to make them work Few forms of market exchange intrigue economists as do auctions, whose theoretical and practical implications are enormous. John Kagel and Dan Levin, complementing their own distinguished research with papers written with other specialists, provide a new focus on common value auctions and the "winner's curse." In such auctions the value of each item is about the same to all bidders, but different bidders have different information about the underlying value. Virtually all auctions have a common value element; among the burgeoning modern-day examples are those organized by Internet companies such as eBay. Winners end up cursing when they realize that they won because their estimates were overly optimistic, which led them to bid too much and lose money as a result. The authors first unveil a fresh survey of experimental data on the winner's curse. Melding theory with the econometric analysis of field data, they assess the design of government auctions, such as the spectrum rights (air wave) auctions that continue to be conducted around the world. The remaining chapters gauge the impact on sellers' revenue of the type of auction used and of inside information, show how bidders learn to avoid the winner's curse, and present comparisons of sophisticated bidders with college sophomores, the usual guinea pigs used in laboratory experiments. Appendixes refine theoretical arguments and, in some cases, present entirely new data. This book is an invaluable, impeccably up-to-date resource on how auctions work--and how to make them work.
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 Handbook of Experimental Game Theory written by C. M. Capra and published by Edward Elgar Publishing. This book was released on 2020-10-30 with total page 448 pages. Available in PDF, EPUB and Kindle. Book excerpt: The aim of this Handbook is twofold: to educate and to inspire. It is meant for researchers and graduate students who are interested in taking a data-based and behavioral approach to the study of game theory. Educators and students of economics will find the Handbook useful as a companion book to conventional upper-level game theory textbooks, enabling them to compare and contrast actual behavior with theoretical predictions. Researchers and non-specialists will find valuable examples of laboratory and field experiments that test game theoretic propositions and suggest new ways of modeling strategic behavior. Chapters are organized into several sections; each section concludes with an inspirational chapter, offering suggestions on new directions and cutting-edge topics of research in experimental game theory.
Download or read book Markets Games and Strategic Behavior written by Charles A. Holt and published by Princeton University Press. This book was released on 2019-03-12 with total page 696 pages. Available in PDF, EPUB and Kindle. Book excerpt: From a pioneer in experimental economics, an expanded and updated edition of a textbook that brings economic experiments into the classroom Economics is rapidly becoming a more experimental science, and the best way to convey insights from this research is to engage students in classroom simulations that motivate subsequent discussions and reading. In this expanded and updated second edition of Markets, Games, and Strategic Behavior, Charles Holt, one of the leaders in experimental economics, provides an unparalleled introduction to the study of economic behavior, organized around risky decisions, games of strategy, and economic markets that can be simulated in class. Each chapter is based on a key experiment, presented with accessible examples and just enough theory. Featuring innovative applications from the lab and the field, the book introduces new research on a wide range of topics. Core chapters provide an introduction to the experimental analysis of markets and strategic decisions made in the shadow of risk or conflict. Instructors can then pick and choose among topics focused on bargaining, game theory, social preferences, industrial organization, public choice and voting, asset market bubbles, and auctions. Based on decades of teaching experience, this is the perfect book for any undergraduate course in experimental economics or behavioral game theory. New material on topics such as matching, belief elicitation, repeated games, prospect theory, probabilistic choice, macro experiments, and statistical analysis Participatory experiments that connect behavioral theory and laboratory research Largely self-contained chapters that can each be covered in a single class Guidance for instructors on setting up classroom experiments, with either hand-run procedures or free online software End-of-chapter problems, including some conceptual-design questions, with hints or partial solutions provided
Download or read book Essays in Information Economics written by Erik Witman Eyster and published by . This book was released on 2001 with total page 310 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Handbook of Field Experiments written by Esther Duflo and published by Elsevier. This book was released on 2017-03-21 with total page 530 pages. Available in PDF, EPUB and Kindle. Book excerpt: Handbook of Field Experiments provides tactics on how to conduct experimental research, also presenting a comprehensive catalog on new results from research and areas that remain to be explored. This updated addition to the series includes an entire chapters on field experiments, the politics and practice of social experiments, the methodology and practice of RCTs, and the econometrics of randomized experiments. These topics apply to a wide variety of fields, from politics, to education, and firm productivity, providing readers with a resource that sheds light on timely issues, such as robustness and external validity. Separating itself from circumscribed debates of specialists, this volume surpasses in usefulness the many journal articles and narrowly-defined books written by practitioners. - Balances methodological insights with analyses of principal findings and suggestions for further research - Appeals broadly to social scientists seeking to develop an expertise in field experiments - Strives to be analytically rigorous - Written in language that is accessible to graduate students and non-specialist economists
Download or read book Experimental Auctions written by Jayson L. Lusk and published by Cambridge University Press. This book was released on 2007-11-08 with total page 316 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 Consumer Behaviour Analysis The behavioural economics of consumption written by G. R. Foxall and published by Taylor & Francis. This book was released on 2002 with total page 512 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Handbook of Industrial Organization written by Kate Ho and published by Elsevier. This book was released on 2021-12-09 with total page 782 pages. Available in PDF, EPUB and Kindle. Book excerpt: Handbook of Industrial Organization Volume 4 highlights new advances in the field, with this new volume presenting interesting chapters. Each chapter is written by an international board of authors. Part of the renowned Handbooks in Economics series Chapters are contributed by some of the leading experts in their fields A source, reference and teaching supplement for industrial organizations or industrial economists
Download or read book Dissertation Abstracts International written by and published by . This book was released on 2009-07 with total page 576 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Experimental Business Research written by Amnon Rapoport and published by Springer Science & Business Media. This book was released on 2005-10-20 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt: Volume II & III of Experimental Business Research include original papers that were presented at the Second Asian Conference on Experimental Business Research held at the Hong Kong University of Science and Technology (HKUST) on December 16-19, 2003. The conference was organized by the Center for Experimental Business Research (cEBR) at HKUST and was chaired by Professors Amnon Rapoport and Rami Zwick. Experimental Business Research adopts laboratory based experimental economics methods to study an array of business and policy issues spanning the entire business domain including accounting, economics, finance, information systems, marketing and management and policy. "Experimental economics" is an established term that refers to the use of controlled laboratory-based procedures to test the implications of economic hypotheses and models and discover replicable patterns of economic behavior. We have coined the term "Experimental Business Research" in order to broaden the scope of"experimental economics" to encompass experimental finance, experimental accounting, and more generally the use of laboratory-based procedures to test hypotheses and models arising from research in other business related areas, including information systems, marketing, and management and policy. The chapters included in these volumes reflect the domain diversity of studies in the experimental business research field.
Download or read book Combinatorial Auctions written by Peter C. Cramton and published by MIT Press (MA). This book was released on 2006 with total page 678 pages. Available in PDF, EPUB and Kindle. Book excerpt: A synthesis of theoretical and practical research on combinatorial auctions from the perspectives of economics, operations research, and computer science.
Download or read book Snipers Shills Sharks written by Kenneth Steiglitz and published by Princeton University Press. This book was released on 2007-04 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: Publisher description
Download or read book Social Sciences Index written by and published by . This book was released on 1989 with total page 1946 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book A Collection of Surveys on Market Experiments written by Charles Noussair and published by John Wiley & Sons. This book was released on 2013-11-27 with total page 374 pages. Available in PDF, EPUB and Kindle. Book excerpt: Comprised of 10 surveys by leading scholars, this collection showcases the largest and fastest growing strands of research on market behaviour in experimental economics. Covers topics such as asset markets, contests, environmental policy, frictions, general equilibrium, labour markets, multi-unit auctions, oligopoly markets, and prediction markets Focuses on the literature that has helped economists best understand how markets operate Assesses the impact of developments in theory, policy, and research methods
Download or read book Auctions and Auctioneering written by Ralph Cassady Jr. and published by Univ of California Press. This book was released on 2023-04-28 with total page 346 pages. Available in PDF, EPUB and Kindle. Book excerpt: This title is part of UC Press's Voices Revived program, which commemorates University of California Press’s mission to seek out and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived makes high-quality, peer-reviewed scholarship accessible once again using print-on-demand technology. This title was originally published in 1967.
Download or read book Workbook to Accompany Political Economics written by Isabelle Brocas and published by MIT Press. This book was released on 2000-08-14 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book accompanies Political Economics: Explaining Economic Policy and sugggests solutions to the problems contained in each chapter.
