Search results for " auctions"
showing 4 items of 4 documents
Revista electrónica de investigación y evaluación educativa
2014
La Economía Experimental ha desarrollado diferentes experimentos que pueden ser aprovechados como una actividad docente en la enseñanza de la Economía. Su naturaleza activa y participativa motiva a los alumnos y estimula la reflexión y la mejor comprensión de algunos fenómenos económicos como el funcionamiento de los mercados, donde los resultados individuales dependen del conjunto de las decisiones de los agentes y de sus interacciones. Los experimentos económicos tienen ya una larga tradición, y han proporcionado resultados espectaculares y conclusiones ampliamente admitidas sobre la dinámica de mercados y el efecto de las instituciones económicas. Las nuevas tecnologías facilitan la real…
Wine - investment: a profitable alternative investment or a simple long term pleasure?
2014
International audience; The purpose of this work is twofold: - to make a first historic analysis of performance through an investment in wine by comparing its performance with those that would have been possible to obtain at the same time by providing financial term investments; - to introduce the regional diversity of performance by considering the situation in the three selected geographic areas.
Design of Public Procurement Auctions: Evidence from Cleaning Contracts
2018
We analyze a regime change from beauty contests to first-price sealed-bid and scoring auctions, using Swedish data on public procurement of cleaning services. In beauty contests, the lowest bid often lost, leaving substantial money on the table. The procurement costs were similar before and after the regime change: (i) Entry strongly decreases the procurement cost but did not change. Entry would have decreased had the municipalities not adjusted the objects of auctions. (ii) Municipalities favored in-house suppliers in the old regime, leading to more aggressive bidding by others. With favoritism reduced, these changes balanced each other out. Peer reviewed
Shilling, Squeezing, Sniping. A further explanation for late bidding in online second-price auctions
2021
Abstract Several studies provide empirical evidence for sniping (i.e., waiting until the last few seconds to bid) in second-price internet auctions, particularly in auctions at eBay . This evidence was regarded as puzzling and an anomaly for an extended period: How could sniping be consistent with rational behaviour in second-price auctions, where theory predicts that bids’ timing plays no role and there is no incentive to bid less than one’s private value. An essential contribution to this puzzling issue has been the insight by Bose and Daripa (2017) that late bidding is itself a response to the shilling. Their paper explains well late bidding for repeating auctions. However, late bidding …