Please use this identifier to cite or link to this item:
https://doi.org/10.1257/mic.20200206
| DC Field | Value | |
|---|---|---|
| dc.title | Deposit Requirements in Auctions | |
| dc.contributor.author | Che, Xiaogang | |
| dc.contributor.author | Li, Tong | |
| dc.contributor.author | Lu, Jingfeng | |
| dc.contributor.author | Zheng, Xiaoyong | |
| dc.date.accessioned | 2023-01-03T01:05:47Z | |
| dc.date.available | 2023-01-03T01:05:47Z | |
| dc.date.issued | 2022-11-01 | |
| dc.identifier.citation | Che, Xiaogang, Li, Tong, Lu, Jingfeng, Zheng, Xiaoyong (2022-11-01). Deposit Requirements in Auctions. American Economic Journal: Microeconomics 14 (4) : 465-493. ScholarBank@NUS Repository. https://doi.org/10.1257/mic.20200206 | |
| dc.identifier.issn | 1945-7669 | |
| dc.identifier.issn | 1945-7685 | |
| dc.identifier.uri | https://scholarbank.nus.edu.sg/handle/10635/235798 | |
| dc.description.abstract | <jats:p> We examine optimal auction design when buyers may receive future outside offers. The winning bidder may choose to default upon observing her outside offer. Under the optimal mechanism, the bidder with the highest value wins if and only if her value is above a cutoff, and the winner never defaults. The optimal auction takes the form of a second-price auction with a reserve price and a deposit by the winning bidder. Under regularity conditions, both the optimal reserve price and the deposit increase when the distribution of outside offers worsens. (JEL D44, D82) </jats:p> | |
| dc.publisher | American Economic Association | |
| dc.source | Elements | |
| dc.type | Article | |
| dc.date.updated | 2022-12-29T01:50:49Z | |
| dc.contributor.department | BIOMEDICAL ENGINEERING | |
| dc.contributor.department | ECONOMICS | |
| dc.description.doi | 10.1257/mic.20200206 | |
| dc.description.sourcetitle | American Economic Journal: Microeconomics | |
| dc.description.volume | 14 | |
| dc.description.issue | 4 | |
| dc.description.page | 465-493 | |
| dc.published.state | Published | |
| Appears in Collections: | Staff Publications Elements | |
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| File | Description | Size | Format | Access Settings | Version | |
|---|---|---|---|---|---|---|
| AEJMicro-2020-0206.pdf | 358.41 kB | Adobe PDF | OPEN | None | View/Download |
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