当人们对市场缺乏共同认识时,泡沫就类似于一个共同价值拍卖(Common-Value Auction),即交易者对某种资产的共同价值 …doc.mbalib.com|基于3个网页 2. 共有价值拍卖 如果从拍卖物品的价值形式角度,可以分为共有价值拍卖(Common-value Auction)与私有价值拍卖(Private-value Auction) …www.ectime.com.cn|基于2个网...
必应词典为您提供common-value-auction的释义,网络释义: 共同价值拍卖;共有价值拍卖;
1) common value auction 公共价值拍卖 2) Public 公共 1. OnPublicity andPublicConditions of Human Being; 论人的类存在的公共属性及公共条件 2. Urban house removal public interest s definition in procedure law——On No.16 article in urban house removal management regulation; ...
Common value auction Definition A common value auction is a term in economics describing an auction in which the good being auctioned is valued the same by each participant. Note that this does not mean every participant knows the precise value of the item being auctioned, it just means tha...
I study common-value auctions with asymmetrically informed bid- ders. For the two-bidder case, I characterize the first-price auction equilibrium and select an equilibrium for the second-price auction. A recursive method to explicitly compute these equilibria is uncovered. Then, it is shown that,...
Experimental auction markets are characterized by a strong winner's curse in early auction periods as high bidders consistently lose money, failing to account for the adverse selection problem inherent in winning the auction. With experience and bankruptcy on the part of the worst offenders, subjects...
2.The model considers common value and private value at the same time; then they study the optimal auction agenda with two bids, which is based on the auctions that are yet to be conducted.Goeree提出的同时考虑标的共同价值和私人价值的基础上,提出了多Agent序贯拍卖的最优排序策略。 3.The object...
2. The model considers common value and private value at the same time; then they study the optimal auction agenda with two bids, which is based on the auctions that are yet to be conducted. Goeree提出的同时考虑标的共同价值和私人价值的基础上,提出了多Agent序贯拍卖的最优排序策略。
aThis relationship in auction models is characterized by the Linkage Principle (Milgrom and Weber, 1982).17 As previously stated, the profitability of any bidder in a common value auction must arise from some inherent information advantage, and a bidder's profits are highest when he has private...
Structural econometric auction models with explicit game-theoretic modeling of bidding strategies have been quite a challenge from a methodological perspective, especially within the common value framework. We develop a Bayesian analysis of the hierarchical Gaussian common value model with stochastic entry ...