BIDDING FOR PARKING: The Impact of University Affiliation on Predicting Bid Values in Dutch Auctions of On-Campus Parking Permits
By Grant Kelly Parking is often underpriced and expanding its capacity is expensive; universities need a better way of reducing congestion outside of building costly parking garages. Demand based pricing mechanisms, such as auctions, offer a possible solution to the problem by promising to reduce parking at peak times. However, faculty, students, and staff at […]
Collusion with Three Bidders at First-Price Auctions
By Andrew Born Lopomo, Marx, & Sun (2009) show that, given a speci fied environment, pro table collusion is not possible for a two-person bidding ring operating at a fi rst-price sealed-bid auction. This research investigates the rigor of their result by expanding the theoretical framework to the case of a three-bidder cartel. The output generated from the […]
Strategic Behavior in Online Auctions: An Analysis of Sniping
by Claudia Lai Abstract Sniping is a prevalent phenomenon in eBay auctions, which have a fixed end time. Such practice seems apparently inconsistent with standard auction theory – last minute bids are received with reduced probability, and should rationally be submitted earlier – yet previous literature has shown that bidders typically do not engage in […]
Analysis of Auction Price Risk: An Empirical Study of the Australian Aboriginal Art Market
by Ilya Voytov Abstract Auction theory economists have shown that auctions can be structured to maximize the expected revenue to the seller. In this thesis, I show that they can also be optimized to minimize the sellers’ risk through an understanding of the driving factors behind seller’s auction price risk. I derive a general form […]
