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Collusion And Predation In Auction Markets
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Book Synopsis Collusion and Predation in Auction Markets by : Paul Klemperer
Download or read book Collusion and Predation in Auction Markets written by Paul Klemperer and published by . This book was released on 2001 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The most important issues in auction design are the traditional concerns of competition policy - preventing collusive, predatory, and entry-deterring behaviour. Ascending and uniform-price auctions are particularly vulnerable to these problems, and the Anglo-Dutch auction - a hybrid of the sealed-bid and ascending auctions - may often perform better. Effective anti-trust policy is also critical. However, everything depends on the details of the context; the circumstances of the recent U.K. mobile-phone license made an ascending format ideal, but this author (and others) correctly predicted the same format would fail in the Netherlands and elsewhere. Auction design is not "one size fits all". We also discuss the 3G spectrum auctions in Germany, Italy, Austria and Switzerland, and football TV-rights, TV franchise and other radiospectrum auctions, electricity markets, and takeover battles. [This is a revised and extended version of the paper previously circulated under the title "What Really Matters in Auction Design".].
Book Synopsis Collusion and Market Power in Experimental Auction Markets by : Patrizia Sbriglia
Download or read book Collusion and Market Power in Experimental Auction Markets written by Patrizia Sbriglia and published by . This book was released on 1996 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis On the Detection of Collusion and Predation by : Louis Phlips
Download or read book On the Detection of Collusion and Predation written by Louis Phlips and published by . This book was released on 1995 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Spectrum Auctions and Competition in Telecommunications by : Gerhard Illing
Download or read book Spectrum Auctions and Competition in Telecommunications written by Gerhard Illing and published by MIT Press. This book was released on 2003-12-23 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt: Leading experts in industrial organization and auction theory examine the recent European telecommunication license auction experience. In 2000 and 2001, several European countries carried out auctions for third generation technologies or universal mobile telephone services (UMTS) communication licenses. These "spectrum auctions" inaugurated yet another era in an industry that has already been transformed by a combination of staggering technological innovation and substantial regulatory change. Because of their spectacular but often puzzling outcomes, these spectrum auctions attracted enormous attention and invited new research on the interplay of auctions, industry dynamics, and regulation. This book collects essays on this topic by leading analysts of telecommunications and the European auction experience, all but one presented at a November 2001 CESifo conference; comments and responses are included as well, to preserve some of the controversy and atmosphere of give-and-take at the conference.The essays show the interconnectedness of two important and productive areas of modern economics, auction theory and industrial organization. Because spectrum auctions are embedded in a dynamic interaction of consumers, firms, legislation, and regulation, a multidimensional approach yields important insights. The first essays discuss strategies of stimulating new competition and the complex interplay of the political process, regulation, and competition. The later essays focus on specific spectrum auctions. Combining the empirical data these auctions provide with recent advances in microeconomic theory, they examine questions of auction design and efficiency and convincingly explain the enormous variation of revenues in different auctions.
Book Synopsis Micro and Local Power Markets by : Andreas Sumper
Download or read book Micro and Local Power Markets written by Andreas Sumper and published by John Wiley & Sons. This book was released on 2019-06-13 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: Introduces readers to micro and local power markets and their use for local initiatives, grid integration, and future applications This book provides the basis for understanding micro power markets, emphasizing its application for local initiatives, the grid integration of renewable-based generation, and facilitating the decarbonization of the future electrical networks. It gives readers a comprehensive overview of the market operation, and highlights the basis of the design of local and micro markets. Micro and Local Power Markets starts by covering the economics and basic principle of power markets, including the fundamentals of the power trading (for both wholesale and local markets). Following a definition of both micro and local (technical and economic aspects) power markets, the book then looks at the organization of such markets. It describes the design of those power markets, isolated from the wholesale markets, and examines the methodologies of the interaction between these power markets and wholesale markets. The book also presents cognitive business models for micro and local power markets, as well as the regulatory issues concerning them. Introduces the basic principle of power markets Defines micro and local power markets Outlines the design of micro and local power markets, including the principles, as well as the trading schemes, flexibility, and services Discusses methodologies of the interaction between micro and local power markets and wholesale markets Presents business models for micro and local power markets Summarizes regulatory issues around micro and local power markets Micro and Local Power Markets is an ideal book for upper undergraduate students in engineering, as well as for early researchers in the energy sector. It is also recommended for any scientist and engineer being introduced to the field of power systems and their organization.
Book Synopsis Journal of Institutional and Theoretical Economics by :
Download or read book Journal of Institutional and Theoretical Economics written by and published by . This book was released on 2008 with total page 846 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Using the Spatial Distribution of Bidders to Detect Collusion in the Marketplace by : Michael K. Price
Download or read book Using the Spatial Distribution of Bidders to Detect Collusion in the Marketplace written by Michael K. Price and published by . This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study develops identification strategies utilizing spatial bidding patterns to detect possible collusion in auction markets. The identification strategy is applied to examine bidder behavior using data drawn from nearly 3,000 auctions (over 10,000 individual bids) for cutting rights of standing timber in British Columbia for the period 1996-2000. Results suggest that observed patterns of behavior are inconsistent with a model of perfectly competitive bidding. Further, changes in such patterns across geographic space are remarkably consistent with patterns of decay in the transmission of knowledge reported in previous empirical work on spillovers.
Book Synopsis Liberalisation of Natural Gas Markets by : Onur Demir
Download or read book Liberalisation of Natural Gas Markets written by Onur Demir and published by Springer Nature. This book was released on 2020-03-21 with total page 277 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book investigates the overall natural gas reform performance of Turkey, addressing both shortfalls and setbacks that have prevented Turkey from the fulfillment of the regulatory implementation since 2001, and how the prospectively liberalised natural gas market can effectively operate at all levels. Although eighteen years have passed since the introduction of the first legislation as a basis for a more liberalised Turkish natural gas market, the completion of the reform process still suffers from a lack of enforcement. The book offers recommendations to address this, the main one being that policy makers should give due consideration to the consolidation of EMRA’s independent role with appropriate safeguards laid out to prevent attempts of regulatory misuse. The book concludes by suggesting that there is a compelling need to move forward with a consolidated reform sooner rather than later if Turkey genuinely wishes to take a leadership position in the race to become an efficient gas hub and be part of Europe’s single energy market.
Book Synopsis Law and Economics in European Merger Control by : Ulrich Schwalbe
Download or read book Law and Economics in European Merger Control written by Ulrich Schwalbe and published by Oxford University Press. This book was released on 2009-10 with total page 477 pages. Available in PDF, EPUB and Kindle. Book excerpt: Co-written by an expert lawyer and economist, this book provides a thorough guide to the economic theory behind the regulation of mergers. The economic theory is then used to analyse the current state of European competition law, and test the success of the European Commission's search for a 'more economic approach' to merger regulation.
Download or read book Auctions written by Paul Klemperer and published by Princeton University Press. This book was released on 2018-06-05 with total page 263 pages. Available in PDF, EPUB and Kindle. Book excerpt: Governments use them to sell everything from oilfields to pollution permits, and to privatize companies; consumers rely on them to buy baseball tickets and hotel rooms, and economic theorists employ them to explain booms and busts. Auctions make up many of the world's most important markets; and this book describes how auction theory has also become an invaluable tool for understanding economics. Auctions: Theory and Practice provides a non-technical introduction to auction theory, and emphasises its practical application. Although there are many extremely successful auction markets, there have also been some notable fiascos, and Klemperer provides many examples. He discusses the successes and failures of the one-hundred-billion dollar "third-generation" mobile-phone license auctions; he, jointly with Ken Binmore, designed the first of these. Klemperer also demonstrates the surprising power of auction theory to explain seemingly unconnected issues such as the intensity of different forms of industrial competition, the costs of litigation, and even stock trading 'frenzies' and financial crashes. Engagingly written, the book makes the subject exciting not only to economics students but to anyone interested in auctions and their role in economics.
Book Synopsis Competition and Collusion in Auctions and Other Input Markets by : Charles Jonathan Thomas
Download or read book Competition and Collusion in Auctions and Other Input Markets written by Charles Jonathan Thomas and published by . This book was released on 1996 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Strategy, Predation, and Antitrust Analysis by : Steven C. Salop
Download or read book Strategy, Predation, and Antitrust Analysis written by Steven C. Salop and published by . This book was released on 1981 with total page 772 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Double Auction Market by : Daniel Friedman
Download or read book The Double Auction Market written by Daniel Friedman and published by Routledge. This book was released on 2018-05-04 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book focuses on markets organized as double auctions in which both buyers and sellers can submit bids and asks for standardized units of well-defined commodities and securities. It examines evidence from the laboratory and computer simulations.
Book Synopsis Collusion Detection in Auctions Using Machine Learning Algorithms by : Muskan Rathi
Download or read book Collusion Detection in Auctions Using Machine Learning Algorithms written by Muskan Rathi and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This interdisciplinary honors thesis in Computational Economics investigates the different methods to compute auction equilibria and the impact of collusion on auction outcomes and the effectiveness of various machine learning algorithms in detecting collusive behavior using real-world datasets. We develop a program to analyze the Bayesian Nash equilibrium strategies of bidders in first-price and second-price auctions under scenarios with and without collusion. We further explore the performance of different machine learning algorithms, including Support Vector Machine (SVM), which demonstrates the highest F1 score in detecting collusion among the tested algorithms. The challenges associated with obtaining real-life auction data necessitate the use of synthetic data, providing a valuable resource for developing and validating anti-collusion algorithms in the future.This research contributes to a deeper understanding of auction dynamics and collusion, informing policymakers and regulators in designing robust auction mechanisms, implementing effective anti-collusion measures, and promoting fair and efficient market outcomes.
Book Synopsis Handbook of Game Theory and Industrial Organization, Volume II by : Luis C. Corchón
Download or read book Handbook of Game Theory and Industrial Organization, Volume II written by Luis C. Corchón and published by Edward Elgar Publishing. This book was released on 2018-02-23 with total page 547 pages. Available in PDF, EPUB and Kindle. Book excerpt: This second volume of the Handbook includes original contribution by experts in the field. It provides up-to-date surveys of the most relevant applications of game theory to industrial organization. The book covers both classical as well as new IO topics such as mergers in markets with homogeneous and differentiated goods, leniency and coordinated effects in cartels and mergers, static and dynamic contests, consumer search and product safety, strategic delegation, platforms and network effects, auctions, environmental and resource economics, intellectual property, healthcare, corruption, experimental industrial organization and empirical models of R&D.
Book Synopsis Antitrust, Results from the Laboratory by : Charissa P. Wellford
Download or read book Antitrust, Results from the Laboratory written by Charissa P. Wellford and published by . This book was released on 1993 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Collusion in Uniform-price Auctions by : Gautam Goswami
Download or read book Collusion in Uniform-price Auctions written by Gautam Goswami and published by . This book was released on 1995 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
