Number of the records: 1  

Revenue and efficiency in multi-unit uniform-price auctions

  1. View book information on page www.obalkyknih.cz

    book


     Břeský, Michal - Author
    Prague : CERGE-EI, 2009 - 39 s. : il. ; 21 cm
    ISBN 978-80-7343-185-3 (Centrum pro ekonomický výzkum a doktorské studium UK : brož.), ISBN 978-80-7344-174-6 (Národohospodářský ústav AV ČR : brož.)
    Working paper series,
     aukce  aukční ceny  matematické modelování
     studie
    Call numberC 337.598
    Umístění 338.5 - Ceny. Cenová politika
    BranchPlaceInfoSignature
    Lidická ( příruční sklad )k vypůjčeníC 337.598   

    Title statementRevenue and efficiency in multi-unit uniform-price auctions / Michal Břeský
    Main entry-name Břeský, Michal (Author)
    Issue dataPrague : CERGE-EI, 2009
    Phys.des.39 s. : il. ; 21 cm
    ISBN978-80-7343-185-3 (Centrum pro ekonomický výzkum a doktorské studium UK : brož.)
    978-80-7344-174-6 (Národohospodářský ústav AV ČR : brož.)
    National bibl. num.cnb001962028
    Edition Working paper series (CERGE-EI) ; 384
    Internal Bibliographies/Indexes NoteObsahuje bibliografii
    Language noteSouběžné české resumé
    Subj. Headings aukce * aukční ceny * matematické modelování
    Form, Genre studie
    Conspect33 - Ekonomie
    UDC 339.375 , 338.516.49 , 519.673 , (048.8)
    CountryČesko
    Languageangličtina
    Ve volném výběru338.5 - Ceny. Cenová politika
    Document kindBOOKS
    I show that in a private value multi-unit uniform-price auction, the reservation price increases both the efficiency and revenue. In equilibrium the difference between the true value of a unit and the submitted bid (shading) is different for each unit; therefore, the seller cannot allocate units efficiently, i.e., to those who value them the most. When the seller increases the reservation price, the bidders increase their bids on the units with greater shading. Then more often the units are allocated among those who have higher values for them, that is, efficient, although some bidders with a low value do not participate in the auction. In contrast to some other auction formats, for a low range of reservation prices, the higher the reservation price, the higher is both the expected efficiency and revenue. Zdroj anotace: OKCZ - ANOTACE Z WEBU
    Loading…

Number of the records: 1  

  This site uses cookies to make them easier to browse. Learn more about how we use cookies.