Journal ArticleDOI
Designing a private industry: Government auctions with endogenous market structure
James D. Dana,Kathryn E. Spier +1 more
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In this article, the authors considered government mechanisms for auctioning production rights in which both the winners and the market structure, doupoly (dual-sourcing), monopoly (sole sourcing), or government-owned production, are a function of the bids.About:
This article is published in Journal of Public Economics.The article was published on 1994-01-01. It has received 150 citations till now. The article focuses on the topics: Economic surplus & Common value auction.read more
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Putting Auction Theory to Work
TL;DR: This book provides a comprehensive introduction to modern auction theory and its important new applications and explores the tension between the traditional theory of auctions with a fixed set of bidders and the theory of Auction with endogenous entry, in which bidder profits must be respected to encourage participation.
Book ChapterDOI
Recent developments in the theory of regulation
TL;DR: In this paper, the authors review recent theoretical work on the design of regulatory policy, focusing on the complications that arise when regulated suppliers have better information about the regulated industry than do regulators.
Posted Content
Regulation, Competition and Liberalization
TL;DR: The authors examines the complexities involved in the liberalization process and distinguishes liberalization policies that generally are procompetitive from corresponding anti-competitive policies, while stressing the importance of case-specific analyses.
Journal ArticleDOI
Regulation, Competition, and Liberalization
TL;DR: The authors examines the complexities involved in the liberalization process and distinguishes liberalization policies that generally are procompetitive from corresponding anticompetitive policies. But they do not discuss the role of case-specific analyses.
Journal ArticleDOI
Supply Contract Competition and Sourcing Policies
TL;DR: An overview of the research that has been done in the fields of operations research and economics on the topic of sourcing strategies is provided to provide a blueprint of what market characteristics can heavily influence a buyer-supplier relationship and are important to identify and incorporate into the supplier selection process.
References
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Journal ArticleDOI
Optimal Auction Design
TL;DR: Optimal auctions are derived for a wide class of auction design problems when the seller has imperfect information about how much the buyers might be willing to pay for the object.
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Privatization: An Economic Analysis
John Vickers,George Yarrow +1 more
TL;DR: The process of selling assests and enterprises to the private sector raises questions about natural monopolies, the efficiency and equity of state-owned versus privately owned enterprises, and industrial policy.
Journal ArticleDOI
A complete solution to a class of principal-agent problems with an application to the control of a self-managed firm
TL;DR: In this paper, the authors considered a class of principal-agent problems with the following features: there is adverse selection because the principal ignores the value of one parameter of the agent's true characteristics, and the optimization is limited to the class of non-stochastic mechanisms.
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Optimal Selling Strategies under Uncertainty for a Discriminating Monopolist when Demands are Interdependent
Jacques Cremer,Richard P. McLean +1 more
TL;DR: In this article, the optimal design of resource allocation mechanisms in the presence of asymmetric information was studied and sufficient conditions were provided under which the seller can extract the full surplus from the buyers in an "ex post Nash" equilibrium.
Posted Content
Privatization, Information and Incentives
TL;DR: The Fundamental Privatization Theorem (analogous to The Fundamental Theorem of Welfare Economics) is presented, providing conditions under which government production cannot improve upon private production as discussed by the authors.