北京师范大学经济与工商管理学院
 
 
 

【论文】许敏波,Sanxi Li,Jianye Yan:“ALL‐PAY AUCTIONS WITH A BUY‐PRICE OPTION”
发布日期: 2018-12-05  浏览次数:

许敏波,Sanxi Li Jianye Yan. ALL‐PAY AUCTIONS WITH A BUY‐PRICE OPTION. Economic Inquiry, Volume 57, Issue 1, January 2019, Pages 617-630.

Abstract:

This paper studies all‐pay auctions in which there is a buy‐price option for bidders to guarantee purchases at a seller‐specified price. We analyze symmetric increasing bidding equilibria in the first‐ and second‐price all‐pay auctions with the buy‐price option. While the optimal buy‐price in the second price is higher than are those in the first‐price all‐pay auction, both formats maintain the same expected profit. With an endogenous entry process, all‐pay auctions with the buy‐price can attract more consumers and ultimately reach a higher expected profit than does the uniform posted‐price selling mechanism. 


 

北京师范大学经济与工商管理学院

Copyright © 2011 北京师范大学经济与工商管理学院  网站设计与开发:北京师范大学信息网络中心
地址:北京市新街口外大街19号    邮编:100875    传真:010-58801867
 
  北师大经管学院微信公众号