Auctions Under Increasing Costs
DOWNLOAD
Download Auctions Under Increasing Costs PDF/ePub or read online books in Mobi eBooks. Click Download or Read Online button to get Auctions Under Increasing Costs book now. This website allows unlimited access to, at the time of writing, more than 1.5 million titles, including hundreds of thousands of titles in various foreign languages. If the content not found or just blank you must refresh this page
Auctions Under Increasing Costs
DOWNLOAD
Author : David A. Reiffen
language : en
Publisher:
Release Date : 1992
Auctions Under Increasing Costs written by David A. Reiffen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992 with Auctions categories.
Auctions Under Increasing Costs
DOWNLOAD
Author : Federal Trade Federal Trade Commission
language : en
Publisher: CreateSpace
Release Date : 2015-06-06
Auctions Under Increasing Costs written by Federal Trade Federal Trade Commission and has been published by CreateSpace this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-06-06 with categories.
This book models procurement auctions when suppliers face increasing costs. It is shown than an asymmetric equilibrium exists whereby one bidder bids different prices on each project in a series of simultaneous auctions, while its competitor bids the same price on each project. This existence of such an equilibrium may provide an explanation for observed bidding behavior in industries plausibly - characterized by increasing costs. Further, it is shown that the price paid in simultaneously-held auctions will be less than the prices paid in sequentially-held auctions. Hence, the existence of an asymmetric equilibria may explain the prominence of simultaneous auctions for certain products.
Auctions Under Increasing Costs
DOWNLOAD
Author : Federal Trade Federal Trade Commission
language : en
Publisher: Createspace Independent Publishing Platform
Release Date : 2016-01-17
Auctions Under Increasing Costs written by Federal Trade Federal Trade Commission and has been published by Createspace Independent Publishing Platform this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-01-17 with categories.
This book models procurement auctions when suppliers face increasing costs. It is shown than an asymmetric equilibrium exists whereby one bidder bids different prices on each project in a series of simultaneous auctions, while its competitor bids the same price on each project. This existence of such an equilibrium may provide an explanation for observed bidding behavior in industries plausibly - characterized by increasing costs. Further, it is shown that the price paid in simultaneously-held auctions will be less than the prices paid in sequentially-held auctions. Hence, the existence of an asymmetric equilibria may explain the prominence of simultaneous auctions for certain products.
Putting Auction Theory To Work
DOWNLOAD
Author : Paul Milgrom
language : en
Publisher: Cambridge University Press
Release Date : 2004-01-12
Putting Auction Theory To Work written by Paul Milgrom and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-01-12 with Business & Economics categories.
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.
Auctions In The Electricity Market
DOWNLOAD
Author : Stefan Schöne
language : en
Publisher: Springer Science & Business Media
Release Date : 2009-01-06
Auctions In The Electricity Market written by Stefan Schöne and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-01-06 with Business & Economics categories.
Electricity is an essential commodity traded at power exchanges. Its price is very volatile within a day and over the year. This raises questions about the efficiency of the trading rules. The author develops a non-cooperative auction model analyzing the bidding behavior of producers at power exchanges. Producers are limited by the production capacity of their power plants. Production costs are affiliated. This allows for independence or positive correlation. The author analyzes and compares a uniform-price, a discriminatory, and a generalized second-price auction. Optimal bids, cost efficiency, profits, and consumer prices are examined. A simple probability density function of affiliated production costs is given and used for examples. Numerical results are presented. The results of the analysis can help improving the bidding strategies of producers, selecting the best auction type at power exchanges or detecting price manipulations.
Auction Theory
DOWNLOAD
Author : Vijay Krishna
language : en
Publisher: Elsevier
Release Date : 2002-04-25
Auction Theory written by Vijay Krishna and has been published by Elsevier this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-04-25 with Business & Economics categories.
Auction Theory is the standard reference on auctions and the first source of authoritative information about multi-unit auctions. The book develops the main concepts of auction theory from scratch in a self-contained and theoretically rigorous manner. It explores auctions and competitive bidding as games of incomplete information through detailed examinations of themes central to auction theory. This book complements its superb presentation of auction theory with clear and concise proofs of all results on bidding strategies, efficiency, and revenue maximization. It provides discussions on auction-related subjects, including private value auctions; the Revenue Equivalence Principle; auctions with interdependent values; the Revenue Ranking (Linkage) Principle; mechanism design with interdependent values; bidding rings; multiple object auctions; equilibrium and efficiency with private values; and nonidentical objects. This book is essential reading for graduate students taking courses on auction theory, the economics of information, or the economics of incentives, as well as for any serious student of auctions. It will also appeal to professional economists or business analysts working in contract theory, experimental economics, industrial organization, and microeconomic theory. *The standard reference on auctions and the first source of authoritative information about multi-unit auctions*Explores auctions and competitive bidding as games of incomplete information*Uses accessible, detailed examinations of themes central to auction theory
Auction Theory
DOWNLOAD
Author : Pak-Sing Choi
language : en
Publisher: Springer Nature
Release Date : 2021-05-24
Auction Theory written by Pak-Sing Choi and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-05-24 with Business & Economics categories.
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.
Synergies And Price Trends In Sequential Auctions
DOWNLOAD
Author : Flavio F. Menezes
language : en
Publisher:
Release Date : 1999
Synergies And Price Trends In Sequential Auctions written by Flavio F. Menezes and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with Auctions categories.
Discovering Prices
DOWNLOAD
Author : Paul Milgrom
language : en
Publisher: Columbia University Press
Release Date : 2017-05-23
Discovering Prices written by Paul Milgrom and has been published by Columbia University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-05-23 with Business & Economics categories.
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.
Adaptive Bidding In Single Sided Auctions Under Uncertainty
DOWNLOAD
Author : Clemens van Dinther
language : en
Publisher: Springer Science & Business Media
Release Date : 2007-01-10
Adaptive Bidding In Single Sided Auctions Under Uncertainty written by Clemens van Dinther and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-01-10 with Computers categories.
This is one of the first books on the use of software agents to simulate bidding behavior in electronic auctions. It introduces market theory and computational economics together, and gives an overview on the most common and up-to-date agent-based simulation methods. The book will help the reader learn more about simulations in economics in general and common agent-based methods and tools in particular.