Auctions with Resale Markets: A Model of Treasury Bill Auctions (Classic Reprint) - Couverture souple

Bikhchandani, Sushil

9781332252213: Auctions with Resale Markets: A Model of Treasury Bill Auctions (Classic Reprint)

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ISBN 10 : 1332252214 ISBN 13 : 9781332252213

Editeur : Forgotten Books, 2019

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Excerpt from Auctions With Resale Markets: A Model of Treasury Bill Auctions

The Treasury bills are then delivered to the winning bidders and can be resold at an active secondary market.

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�diteur: Forgotten Books
Date d'�dition: 2019
Langue: anglais
ISBN 10: 1332252214
ISBN 13: 9781332252213
Reliure: Broch�
Nombre de pages: 48
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Auctions With Resale Markets: A Model of Treasury Bill Auctions

Sushil Bikhchandani, Chi-Fu Huang

Edit� par Forgotten Books, 2018

ISBN 10 : 1332252214 ISBN 13 : 9781332252213

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Vendeur : Forgotten Books, London, Royaume-Uni

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Paperback. Etat : New. Print on Demand. This book explores a model of competitive bidding where bidders participate with the intent to resell and not consume. It introduces the concept of a resale market linked to the primary market, with bidders' private information affecting both the primary and secondary market prices. The author provides sufficient conditions for the existence of a symmetric Nash equilibrium in the primary auction and analyzes the impact of public information on bidding behavior. The book also examines uniform-price auctions, comparing expected revenues to discriminatory auctions, providing conditions under which uniform-price auctions yield higher revenue. The insights in this book contribute to our understanding of auction design, particularly in markets where resale is common, such as Treasury bill markets. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item. N� de r�f. du vendeur 9781332252213_0

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