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Auctions, Information, and New Technologies

Ehrhart, Karl-Martin; Ott, Marion

Abstract:
Auctions have been developed for economic transactions with asymmetric information
and they are the simplest means of price determination for multilateral trading without
‘market makers.’ During the last years, new technologies gave a boost to the
development and usage of innovative auction formats in several fields. We explore
some of the new possibilities of applications and explain the differences to traditional
auction formats. Furthermore, we demonstrate the potentialities of auctions concerning
information gaining for the auctioneer as well as for the participating bidders.


Zugehörige Institution(en) am KIT Institut für Wirtschaftstheorie und Operations Research (WIOR)
Sonderforschungsbereich 504 der Universität Mannheim (SFB 504)
Publikationstyp Forschungsbericht
Jahr 2004
Sprache Englisch
Identifikator KITopen-ID: 1000004144
Verlag Univ., Mannheim
Serie Working paper series. SonderForschungsBereich 504 ; 04-05
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