Auctions, Information, and New Technologies
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.
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 | Fakultät für Wirtschaftswissenschaften – Institut für Wirtschaftstheorie und Operations Research (WIOR) Universität Karlsruhe (TH) – Interfakultative Einrichtungen (Interfakultative Einrichtungen) Sonderforschungsbereich 504 der Universität Mannheim (SFB 504) |
| Publikationstyp | Forschungsbericht/Preprint |
| Publikationsjahr | 2004 |
| Sprache | Englisch |
| Identifikator | KITopen-ID: 1000004144 |
| Verlag | Martin-Luther-Universität Halle-Wittenberg |
| Serie | Working paper series. SonderForschungsBereich 504 ; 04-05 |
| Externe Relationen | Siehe auch |