Auctioneers and Auctions
نویسندگان
چکیده
منابع مشابه
Secure and Private Auctions without Auctioneers
Security and privacy have become crucial factors in auction design. Various schemes to ensure the safe conduction of sealed-bid auctions have been proposed recently. We introduce a new standard of security for auctions (“full privacy”), that prevents extraction of bid information despite any collusion of participants. This requirement is stronger than other common assumptions that prohibit the ...
متن کاملAuctions without Auctioneers: Distributed Auction Protocols
It is quite natural for electronic institutions to follow the structure of their physical counterparts. However, this is not always appropriate or desirable in a virtual setting. We report on the prototyping of an alternative architecture for electronic auctions based around the concept of an interagent and building on the considerable body of work in the distributed algorithms literature to pl...
متن کاملReplicating Online Yankee Auctions to Analyze Auctioneers' and Bidders' Strategies
Dynamic price setting mechanisms such as online auctions typify the new generation of mercantile processes being used on the WWW. However, arbitrary pricing mechanisms can result in loss of revenue and social capital in markets characterized by tight margins. This work presents a relatively risk-free and cost-effective approach to managing innovation in the area of web-based dynamic price setti...
متن کاملBribery and Favoritism by Auctioneers in Sealed-Bid Auctions∗
We consider a model of bribery in an asymmetric procurement auction. In return for a bribe from the dishonest supplier, the auctioneer has the discretion to allow this supplier to revise his bid downward to match the low bid of the honest supplier. The dishonest supplier can also win the contract outright without paying a bribe by bidding below the honest supplier. We investigate the effect of ...
متن کاملAuctioneers as Market Makers: Managing Momentum in Chittagong Tea Auctions∗
In an auction market, the auctioneer exerts significant influence in choosing and administering a selling strategy. We make the case for viewing the auctioneer as a market maker, whose success depends on how well he manages externalities without jeopardizing the trust of the buyers and sellers. We illustrate that incentives of the market maker may not be aligned with that of individual sellers....
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ژورنال
عنوان ژورنال: The Economic Journal
سال: 1910
ISSN: 0013-0133
DOI: 10.2307/2220608