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Description for Rings in Auctions
Paperback. This text deals with experimental studies in economics. It investigates experimentally collusions in first-price auctions with private values, the main aim of the study being to see which mechanisms are used when the subjects may collude. Series: Lecture Notes in Economics and Mathematical Systems. Num Pages: 184 pages, 8 black & white illustrations, biography. BIC Classification: PBF; PBW. Category: (P) Professional & Vocational. Dimension: 234 x 156 x 10. Weight in Grams: 600.
In auctions, bidders compete with one another in their attempt to 1 purchase the goods that are up for sale • But buyer competition may be reduced or disappear when a ring of colluding bidders is present. The purpose of the participants to a ring is to eliminate buyer competition and to realize a gain over vendors. When all participants are members of the ring, this is done by purchasing the item at the reserve price and splitting the spoils (the difference between the item market value and the reserve price) among the participants. "The term ring apparently derives from ... Read more
In auctions, bidders compete with one another in their attempt to 1 purchase the goods that are up for sale • But buyer competition may be reduced or disappear when a ring of colluding bidders is present. The purpose of the participants to a ring is to eliminate buyer competition and to realize a gain over vendors. When all participants are members of the ring, this is done by purchasing the item at the reserve price and splitting the spoils (the difference between the item market value and the reserve price) among the participants. "The term ring apparently derives from ... Read more
Product Details
Format
Paperback
Publication date
1997
Publisher
Springer-Verlag Berlin and Heidelberg GmbH & Co. KG Germany
Number of pages
184
Condition
New
Series
Lecture Notes in Economics and Mathematical Systems
Number of Pages
174
Place of Publication
Berlin, Germany
ISBN
9783540619307
SKU
V9783540619307
Shipping Time
Usually ships in 15 to 20 working days
Ref
99-15
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