All Pay Auctions With A Buy Price Option
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All Pay Auctions With A Buy Price Option
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Author : Minbo Xu
language : en
Publisher:
Release Date : 2017
All Pay Auctions With A Buy Price Option written by Minbo Xu and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with categories.
This paper studies all-pay auctions for a product in which there is a buy-price option for bidders to guarantee purchases at a seller-specified price. We analyze symmetric pure-strategy equilibria in the first- and second-price all-pay auctions with the buy-price option. Under these equilibria, the buy-price option will affect bidders' bidding behavior: while it has no impact on low-value bidders, it makes middle-value bidders bid more aggressively and high-value bidders less aggressively. Under the optimal buy-price, the first- and second-price all-pay auctions maintain the same expected profit while the buy-price in the second-price is higher than those in the first-price all-pay auction. Compared to the uniform posted-price selling mechanism, all-pay auctions with the buy-price cannot attain more expected profit under the fixed number of consumers. However, if there is an endogenous entry process, they can attract more consumers and then reach more profit in expectation.
Three Essays On All Pay Auctions
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Author : Minbo Xu
language : en
Publisher:
Release Date : 2013
Three Essays On All Pay Auctions written by Minbo Xu and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with Economics categories.
The dissertation includes three research papers on all-pay auctions. The first paper (Chapter 1) considers an all-pay auction for a product in which there is an option for bidders to guarantee purchases at a seller specified posted price P at any time. We find the symmetric pure-strategy equilibria in the first- and second-price all-pay auctions (also called war of attrition) with a buy-price option. Under these equilibria the buy-price option will affect high-value bidders' behavior, and improve their welfare. At the same time, the seller can select the optimal posted price to collect more revenue, and the Revenue Equivalence Theorem holds as well. The second paper (Chapter 2) conducts empirical analysis on online penny auctions, which are seen as an adaptation of the famous dollar auction and as "the evil stepchild of game theory and behavioral economics." We use the complete bid and bidder history at a website to study if penny auctions can sustain excessive profits over time. The overwhelming majority of new bidders lose money, but they quit quickly. A very small percentage of bidders are experienced and strategically sophisticated, but they earn substantial profits. Our evidence thus suggests that penny auctions cannot sustain excessive profits without attracting a revolving door of new customers who will lose money. The third paper (Chapter 3) proposes a nonparametric estimation approach to empirical analysis of the war of attrition. In order to construct a tractable model, we consider the uncertain competition and derive a structural model with a stochastic number of bidders. We admit the contamination from observables and introduce a deconvolution problem with heteroscedastic errors into the nonparametric approach. By a two-step nonparametric procedure, we can attain a consistent estimator of the distribution of bidders' private values from the observables. Finally, we apply the estimation procedure to field data from penny auctions.
A Note On All Pay Auctions With Pre And Post Bidding Options
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Author : Minbo Xu
language : en
Publisher:
Release Date : 2017
A Note On All Pay Auctions With Pre And Post Bidding Options written by Minbo Xu and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with categories.
In a recent paper, Odegaard and Anderson (2014) consider a setting of two sales channels: a fixed list price store and an all-pay auction with a buy-price option. They did not address the concern on the coexistence of two channels. If a single firm operates dual channels, we show that the seller will be better off by shutting down the auction channel. When two firms run dual channels, we propose a Nash equilibrium of Bertrand competition in which the seller's expected net revenue is zero and the auctioneer's expected net revenue is always negative. While the seller is an incumbent, she can set a list price to enjoy positive expected net revenue and deter the auctioneer's entry.
On The Reserve Price In All Pay Auctions With Complete Information And Lobbying Games
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Author :
language : en
Publisher:
Release Date : 2005
On The Reserve Price In All Pay Auctions With Complete Information And Lobbying Games written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with categories.
Auctions With A Buy Price
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Author : Stanley S. Reynolds
language : en
Publisher:
Release Date : 2005
Auctions With A Buy Price written by Stanley S. Reynolds and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with categories.
Internet auctions on eBay and Yahoo allow sellers to list their auctions with a buy-now option. In such auctions the seller sets a buy price at which a bidder may purchase the item immediately and end the auction. In the eBay version of a buy-now auction, the buy-now option disappears as soon as a bid is placed, while in the Yahoo version of the auction the buy-now option remains in effect throughout the auction. We characterize equilibrium bidding strategies in eBay and Yahoo buy-now auctions. We show that for both auctions, when bidders are risk averse, introducing a buy price raises seller revenue for a wide range of buy prices. In addition, when the reserve prices and the buy prices are the same in both auctions, the Yahoo format raises more revenue than the eBay format, while the auctions are utility equivalent from the bidders' perspective.
The Ultimate Guide To Penny Auctions
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Author : Adam Young
language : en
Publisher: Booktango
Release Date : 2013-04-11
The Ultimate Guide To Penny Auctions written by Adam Young and has been published by Booktango this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-04-11 with Business & Economics categories.
Winning strategies, tips and tricks to penny auction domination. How to win more penny auctions using less bids. While there are no magic bullets, if you take on board the hints, tips, tricks and strategies outlined in this book, you will increase your chances of success in the crazy, fun, exhilarating and sometimes frustrating world of penny auctions.
Ebay Business All In One For Dummies
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Author : Marsha Collier
language : en
Publisher: John Wiley & Sons
Release Date : 2018-02-13
Ebay Business All In One For Dummies written by Marsha Collier and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-02-13 with Computers categories.
The selling, marketing, and business tips you need to succeed eBay is the perfect place to learn the ropes of what it's like running an online business. It provides the tools, technology, and platform a would-be entrepreneur needs to launch their first successful small business. It takes some know-how, however, to get that business off the ground and grow it into a success. In eBay Business All-in-One For Dummies, Marsha Collier shares the expertise she gained as one of eBay's first Power Sellers on how to get ahead, stay ahead, and expand your business onto other platforms when it's time to grow. eBay continues to grow as it connects new individuals with items to sell with would-be buyers every day. Combining essential information covering seven key topics, this all-encompassing guide shows fledgling entrepreneurs how to sell like a pro, present and market your items, become a power seller, deal with office and legal issues, and so much more. Discover the secrets behind driving views for listings Find out how to source merchandise for resale Get advice on the back-office tasks of running a business Grow your business beyond the eBay platform If you have an eye on building a business on eBay—and beyond—this is the one-stop guide you need to succeed.
Economic Theory And Policy Amidst Global Discontent
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Author : Ananya Ghosh Dastidar
language : en
Publisher: Taylor & Francis
Release Date : 2018-02-06
Economic Theory And Policy Amidst Global Discontent written by Ananya Ghosh Dastidar and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-02-06 with Business & Economics categories.
This book rethinks economic theory and calls for a creative and pragmatic approach to policymaking. It examines what development and sustenance of economic progress mean, and how these may be facilitated. The relevance of this issue has received fresh impetus from the significant changes in the degree and pattern of international economic relations that are unfolding across the world, posing both opportunities and challenges. While globalisation of goods and financial markets may have delivered high growth for some nations, the distribution of the benefits has often been highly unequal, with gains to owners of capital and skills being disproportionately higher compared to that of labour, especially the unskilled. Widening and persistent inequalities have been at the heart of rising polarisation and spread of conflicts that threaten the social fabric. This work emphasises the relevance of a broad policy framework based on building individual capabilities and in line with a human-centric perspective. At the same time, it points out the crucial need to create policy space for macroeconomic stability and to accommodate heterodox influences, especially when conventional wisdom proves inadequate, as starkly demonstrated inter alia during the recent global financial crisis. This festschrift, dedicated to Deepak Nayyar, presents chapters on diverse themes that address the persisting global problems of poverty, inequality and sustaining development. The book will be of great interest to scholars and researchers of economics, development studies, public policy and governance, and also to policymakers, government officials and those in media.
Ebay Co Uk Business All In One For Dummies
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Author : Steve Hill
language : en
Publisher: John Wiley & Sons
Release Date : 2010-12-28
Ebay Co Uk Business All In One For Dummies written by Steve Hill and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-12-28 with Computers categories.
Whether you’re new to eBay or an existing business looking to expand online, this bumper book covers all the essentials in one up-to-date and definitive guide. Written by a team of eBay experts this readable guide is packed with advice on setting up your shop front, choosing the right things to sell, presenting and promoting your items, delivering to customers, managing your finances and handling the legal stuff. Combining 9 books in 1 eBay.co.uk Business All-in-One For Dummies is your key to a booming eBay Business This book will be adapted and fully updates to include essential UK information and up-to-date information on the eBay UK website, information will include: Up-to date eBay.co.uk site specific information and any recent changes eBay.co.uk policies and business strategies Setting up a business in the UK Small Business laws and legislation UK case studies UK payment methods UK taxation on goods European & UK shipping, delivery and packing methods UK data protection acts, laws and legislation UK websites UK geographic information
Best Of Three All Pay Auctions
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Author : Aner Sela
language : en
Publisher:
Release Date : 2009
Best Of Three All Pay Auctions written by Aner Sela and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with Auctions categories.