Synergies and Price Trends in Sequential Auctions PDF Download
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Author: Flavio F. Menezes
Publisher:
ISBN:
Category : Auctions
Languages : en
Pages : 32
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Book Description
Author: Flavio F. Menezes
Publisher:
ISBN:
Category : Auctions
Languages : en
Pages : 32
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Author: Kasper Leufkens
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Author: Audrey Hu
Publisher:
ISBN:
Category :
Languages : en
Pages : 34
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We analyze sequential Dutch and Vickrey auctions where risk averse, or risk preferring, bidders may have heterogeneous risk exposures. We derive and characterize a pure strategy equilibrium of both auctions for arbitrary number of identical objects. A sufficient, and to certain extent necessary, condition for this result is that bidders' marginal utilities are log-submodular in income and type. We then show that when bidders are risk averse (preferring), the equilibrium price sequences should be downward (upward) drifting, and in each period the conditional expected revenue is higher (lower) in the Dutch than in the Vickrey sequential auctions. In particular, the "declining price anomaly" is perfectly consistent with nonincreasing absolute risk aversion when bidders have exposures to background risk.
Author: Gianfranco Mossetto
Publisher: FrancoAngeli
ISBN: 9788846441645
Category : Art
Languages : en
Pages : 260
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Author: Kasper Leufkens
Publisher:
ISBN:
Category :
Languages : en
Pages : 28
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Author: Can Başkent
Publisher: Springer
ISBN: 3319478435
Category : Philosophy
Languages : en
Pages : 363
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Book Description
This book discusses major milestones in Rohit Jivanlal Parikh’s scholarly work. Highlighting the transition in Parikh’s interest from formal languages to natural languages, and how he approached Wittgenstein’s philosophy of language, it traces the academic trajectory of a brilliant scholar whose work opened up various new avenues in research. This volume is part of Springer’s book series Outstanding Contributions to Logic, and honours Rohit Parikh and his works in many ways. Parikh is a leader in the realm of ideas, offering concepts and definitions that enrich the field and lead to new research directions. Parikh has contributed to a variety of areas in logic, computer science and game theory. In mathematical logic his contributions have been in recursive function theory, proof theory and non-standard analysis; in computer science, in the areas of modal, temporal and dynamic logics of programs and semantics of programs, as well as logics of knowledge; in artificial intelligence in the area of belief revision; and in game theory in the formal analysis of social procedures, with a strong undercurrent of philosophy running through all his work.This is not a collection of articles limited to one theme, or even directly connected to specific works by Parikh, but instead all papers are inspired and influenced by Parikh in some way, adding structures to and enriching “Parikh-land”. The book presents a brochure-like overview of Parikh-land before providing an “introductory video” on the sights and sounds that you experience when reading the book.
Author: Kasper Leufkens
Publisher:
ISBN:
Category :
Languages : en
Pages : 19
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Author: Fernando Branco
Publisher:
ISBN:
Category :
Languages : en
Pages : 58
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Author: Dakshina G. De Silva
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
We consider sequential construction contracts in which bidders may benefit from one auction to the next due to synergistic tasks across the projects auctioned. Theoretical considerations indicate that winners in the former auctions are more likely to participate in latter auctions. Moreover, conditional on participation, past winners place lower bids, on average, and are so more likely to win in later auctions. We present evidence in support of these predictions using sequential construction auctions conducted by the Oklahoma Department of Transportation.
Author: Paul Pezanis-Christou
Publisher:
ISBN:
Category : Auctions
Languages : en
Pages : 44
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Book Description
