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Auctions, information, and new technologies

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  • Ehrhart, Karl-Martin
  • Ott, Marion

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.

Suggested Citation

  • Ehrhart, Karl-Martin & Ott, Marion, 2004. "Auctions, information, and new technologies," Papers 04-05, Sonderforschungsbreich 504.
    • Handle: RePEc:mnh:spaper:2739
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    References listed on IDEAS

    as
    1. Paul Klemperer, 1999. "Auction Theory: A Guide to the Literature," Journal of Economic Surveys, Wiley Blackwell, vol. 13(3), pages 227-286, July.
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    5. Krishna, Vijay, 2009. "Auction Theory," Elsevier Monographs, Elsevier, edition 2, number 9780123745071.
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    7. Ehrhart, Karl-Martin, 2001. "European Central Bank operations: experimental investigation of the fixed rate tender," Journal of International Money and Finance, Elsevier, vol. 20(6), pages 871-893, November.
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    9. Ehrhart, Karl-Martin, 2001. "European Central Bank Operations: Experimental Investigation of Variable Rate Tenders," Sonderforschungsbereich 504 Publications 01-37, Sonderforschungsbereich 504, Universität Mannheim;Sonderforschungsbereich 504, University of Mannheim.
    10. Klemperer, Paul, 1999. " Auction Theory: A Guide to the Literature," Journal of Economic Surveys, Wiley Blackwell, vol. 13(3), pages 227-86, July.
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