| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP9791 |
| DP9791 On absolute auctions and secret reserve prices | |
| Philippe Jehiel; Laurent Lamy | |
| 发表日期 | 2014-01-26 |
| 出版年 | 2014 |
| 语种 | 英语 |
| 摘要 | From a theory viewpoint, the use of auctions with zero public reserve prices also called absolute auctions, or the use of auctions with secret reserve prices is somehow puzzling despite being common. By allowing that buyers differ in their processing of past data regarding how the participation rate varies with the auction format and how reserve prices are distributed when secret, we show in a competitive environment that these auction formats may endogenously emerge. We also analyze how buyers with various sophistications and sellers with various costs sort into the different formats, thereby offering a range of testable predictions. Alternative approaches are reviewed. |
| 主题 | Industrial Organization |
| 关键词 | Absolute auctions Analogy-based expectations Competing auctions Endogenous entry Rational expectations Secret reserve prices |
| URL | https://cepr.org/publications/dp9791 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/538627 |
| 推荐引用方式 GB/T 7714 | Philippe Jehiel,Laurent Lamy. DP9791 On absolute auctions and secret reserve prices. 2014. |
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