Sequential auctions, price trends, and risk preferences

DOI10.1016/J.JET.2015.05.006MaRDI QIDQ896953zbMATH OpenOpenAlexFDO

Authors Audrey Hu, Liang Zou

Publication date 15 December 2015

Published in Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL https://papers.tinbergen.nl/14139.pdf

zbMATH Keywords

risk preferencebackground riskex-post efficiencysequential auctiondeclining pricelog-supermodularity

Mathematics Subject Classification ID

Auctions, bargaining, bidding and selling, and other market models (91B26)

Recommendations

• Sequential auctions with ambiguity
• Simultaneous vs. sequential auctions with risk averse bidders
• The declining price anomaly
• Sequential auctions with decreasing reserve prices
• The declining price anomaly is not universal in multi-buyer sequential auctions (but almost is)

Cites work

• English auctions with ensuing risks and heterogeneous bidders
• Monotone Comparative Statics under Uncertainty
• Optimal Auctions with Risk Averse Buyers
• Precautionary Bidding in Auctions
• Risk Aversion and the Choice Between Risky Prospects: The Preservation of Comparative Statics Results
• Risk aversion and optimal reserve prices in first- and second-price auctions
• Sequential vs. single-round uniform-price auctions
• Sequentially optimal auctions
• Single Crossing Properties and the Existence of Pure Strategy Equilibria in Games of Incomplete Information
• The declining price anomaly
• Uniqueness of equilibrium in sealed high-bid auctions.

Cited in

(22)

• Vertically differentiated simultaneous Vickrey auctions: theory and experimental evidence
• Mimic martingales in sequential auctions
• Dual auctions for assigning winners and compensating losers
• Allocating positions fairly: auctions and Shapley value
• Ascending bid auctions with behaviorally consistent bidders
• Payoff equivalence in sealed bid auctions and the dual theory of choice under risk
• Simultaneous vs. sequential auctions with risk averse bidders
• Declining valuations in sequential auctions
• Bottom-fishing and declining prices in sequential auctions
• Equilibrium price paths in sequential auctions with stochastic supply
• Synergies and price trends in sequential auctions
• Notes on sequence economies, transaction costs, and uncertainty
• The declining price anomaly is not universal in multi-buyer sequential auctions (but almost is)
• Premium auctions and risk preferences: an experimental study
• Sequential auctions with ambiguity
• Sequential procurement auctions with risk-averse suppliers
• Sequential second-price auctions with private budgets
• The changing of common priors in sequential auctions
• Loss aversion in sequential auctions
• Designing bidding strategies in sequential auctions for risk averse agents
• Herding and the winner's curse in markets with sequential bids
• Dutch vs. first-price auctions with expectations-based loss-averse bidders

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