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Strategic Implications Of Uncertainty Over One's Own Private Value In Auctions, Eric Bennett Rasmusen
Strategic Implications Of Uncertainty Over One's Own Private Value In Auctions, Eric Bennett Rasmusen
Eric Bennett Rasmusen
Bidders have to decide whether and when to incur the cost of estimating their own values in auctions. This can explain sniping-- flurries of bids late in auctions with deadlines-- as the result of bidders trying to avoid stimulating other bidders into examining their bid ceiling more carefully.
The Case For Managed Judges: Learning From Japan After The Political Upheaval Of 1993, Eric Bennett Rasmusen, J. Mark Ramseyer
The Case For Managed Judges: Learning From Japan After The Political Upheaval Of 1993, Eric Bennett Rasmusen, J. Mark Ramseyer
Eric Bennett Rasmusen
Although the executive branch appoints Japanese Supreme Court justices as it does in the United States, a personnel office under the control of the Supreme Court rotates lower court Japanese judges through a variety of posts. This creates the possibility that politicians might indirectly use the postings to reward or punish judges. For forty years, the Liberal Democratic Party (LDP) controlled the legislature and appointed the Supreme Court justices who in turn controlled the careers of these lower-court judges. In 1993, it temporarily lost control. We use regression analysis to examine whether the end of the LDP's electoral lock changed …