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Browsing by Author "Wolfstetter, Elmar"
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1998-06-01BuchA Sealed-Bid Auction that Matches the English Auction Perry, Motty; Wolfstetter, Elmar; Zamir, ShmuelThis paper analyzes a two-stage sealed-bid auction that is frequently employed in privatization, takeover, and merger and acquisition contests. This auction format yields the same expected revenue as the open ascending ...
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2000-05-01BuchAuctions and Corruption Lengwiler, Yvan; Wolfstetter, ElmarIn many auctions, the auctioneer is an agent of the seller. This delegation invites corruption. In this paper we propose a model of corruption, examine how corruption affects the auction game, how the anticipation of ...
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1999-08-01BuchAuctions when Bidders Prepare by Investing in Ideas Jeitschko, Thomas D.; Wolfstetter, Elmar
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2006-01-27BuchAuktionen und Ausschreibungen Bedeutung und Grenzen des „linkage“–PrinzipsWolfstetter, ElmarDieser Beitrag informiert über die Bedeutung von Auktionen im Wirtschaftsleben, über Vor– und Nachteile gängiger Auktionsregeln sowie über grundlegende Konzepte und Ergebnisse der Theorie nichtkooperativer Auktionsspiele. ...
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2005-10-07BuchBidding Behavior in Asymmetric Auctions An Experimental StudyGüth, Werner; Ivanova-Stenzel, Radosveta; Wolfstetter, ElmarWe review an asymmetric auction experiment. Based on Plum (1992) private valuations of the two bidders are independently drawn from distinct but commonly known distributions, one of which stochastically dominating the ...
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2000-01-01BuchImplementing Efficient Market Structure Grimm, Veronika; Riedel, Frank; Wolfstetter, Elmar
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2005-10-12BuchLow Price Equilibrium in Multi–Unit Auctions: The GSM Spectrum Auction in Germany Grimm, Veronika; Riedel, Frank; Wolfstetter, ElmarThe second–generation GSM spectrum auction in Germany is probably the most clear cut example of a low price outcome in a simultaneous ascending–bid auction. The present paper gives an account of the events, describes the ...
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1996-09-01BuchMonopoly Wolfstetter, ElmarThis is the first chapter of a graduate text entitled Topics in Microeconomics. It covers the basics of monopoly theory. Most of the material is kept at an intermediate level to serve as a bridge between the intermediate ...
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1995-12-01BuchPreisregeln für Auktionen und Ausschreibungen Eine DiskussionWolfstetter, ElmarDieser Diskussionsbeitrag kommentiert Güths axiomatische Begründung der Zweit-Preis-Auktion. In diesem Zusammenhang wird auch Güths umfangreiche Analyse der Lambda-Auktion durch eine einfache und anschaulich interpretierbare ...
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1998-07-01BuchScale Economies and the Dynamics of Recurring Auctions Jeitschko, Thomas D.; Wolfstetter, ElmarWe analyze the dynamics of a game of sequential bidding in the presence of stochastic scale effects in the form of stochastic economies or diseconomies of scale. We show that economies give rise to declining expected ...
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2001-05-01BuchThe Swiss UMTS Spectrum Auction Flop Bad Luck or Bad Design?Wolfstetter, ElmarThis paper gives an account of events,and explains some systematic reasons of the UMTS auction flop in Switzerland. Apart from general market developments,which could not have been anticipated, we argue that auction design ...
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2001-08-01BuchThe Third Generation (UMTS) Spectrum Auction in Germany Grimm, Veronika; Riedel, Frank; Wolfstetter, ElmarThe third generation UMTS auction in Germany raised an enormous amount of revenue, and at the same time achieved a more competitive market structure than other UMTS auctions in Europe. The present paper explains the design ...
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1995-12-01BuchThird- and Higher-Price Auctions Wolfstetter, ElmarThis paper solves the equilibrium bid functions of third- and higher-price auctions for a large class of distribution functions of bidders’ valuations, assuming the symmetric independent private values framework, and risk ...
