Hybrid auctions revisited
نویسندگان
چکیده
منابع مشابه
Hybrid Auctions Revisited
We examine hybrid auctions with affiliated private values and risk-averse bidders, and show that the optimal hybrid auction trades off the benefit of information extraction in the ascendingbid phase and the cost of reduced competition in the sealed-bid phase.
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The Internet offers new challenges to the fields of economics and artificial intelligence. This paper addresses several basic problems inspired by the adaptation of economic mechanisms, and auctions in particular, to the Internet. Computational environments uch as the Internet offer a high degree of flexibility in auctions’ rules. This makes the study of optimal auctions especially interesting ...
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Auctions are compared with different forms of negotiation and bargaining. The value of an extra customer is shown to exceed the value of being able to ration supply, if the seller is otherwise unconstrained. Thus, we generalize and provide a simple proof of a result due to Bulow and Klemperer (1996), in which auctions and negotiations are compared. We also compare auctions and seller-offer barg...
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ژورنال
عنوان ژورنال: Economics Letters
سال: 2008
ISSN: 0165-1765
DOI: 10.1016/j.econlet.2007.10.009