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Social and Behavioral Sciences Commons™
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Articles 1 - 18 of 18
Full-Text Articles in Social and Behavioral Sciences
Collusive Bidding In The Fcc Spectrum Auctions, Peter Cramton, Jesse Schwartz
Collusive Bidding In The Fcc Spectrum Auctions, Peter Cramton, Jesse Schwartz
Jesse A. Schwartz
This paper describes the bid signaling that occurred in many of the FCC spectrum auctions. Bidders in these auctions bid on numerous spectrum licenses simultaneously, with bidding remaining open on all licenses until no bidder is willing to raise the bid on any license. Simultaneous open bidding allows bidders to send messages to their rivals, telling them on which licenses to bid and which to avoid. This “code bidding” occurs when one bidder tags the last few digits of its bid with the market number of a related license. We examine how extensively bidders signaled each other with retaliating bids …
An Analysis Of Auction Volume And Market Competition For The Coastal Forest Regions In British Columbia, Peter Cramton, Susan Athey, Allan Ingraham
An Analysis Of Auction Volume And Market Competition For The Coastal Forest Regions In British Columbia, Peter Cramton, Susan Athey, Allan Ingraham
Peter Cramton
US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.
Reserve Prices, Stumpage Fees, And Efficiency, Peter Cramton, Susan Athey, Allan Ingraham
Reserve Prices, Stumpage Fees, And Efficiency, Peter Cramton, Susan Athey, Allan Ingraham
Peter Cramton
US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.
Setting The Upset Price In British Columbia Timber Auctions, Peter Cramton, Susan Athey, Allan Ingraham
Setting The Upset Price In British Columbia Timber Auctions, Peter Cramton, Susan Athey, Allan Ingraham
Peter Cramton
US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.
Unions, Bargaining And Strikes, Peter Cramton, Joseph Tracy
Unions, Bargaining And Strikes, Peter Cramton, Joseph Tracy
Peter Cramton
Labor disputes are an intriguing feature of the landscape of industrialized economies. Economists have had a long-standing interest in formulating a framework for understanding and analyzing labor disputes. The development of noncooperative bargaining theory provided the tools for a theory of collective bargaining and labor disputes. A general aim of this theoretical development is to inform policy makers of the efficiency and equity effects associated with different labor laws and institutions that govern and shape the collective bargaining process. While this new literature is still evolving, it can already offer many insights into the interplay between policy and the bargaining …
Demand Reduction And Inefficiency In Multi-Unit Auctions, Peter Cramton, Lawrence M. Ausubel
Demand Reduction And Inefficiency In Multi-Unit Auctions, Peter Cramton, Lawrence M. Ausubel
Peter Cramton
Auctions typically involve the sale of many related goods. Treasury, spectrum and electricity auctions are examples. In auctions where bidders pay the market-clearing price for items won, large bidders have an incentive to reduce demand in order to pay less for their winnings. This incentive creates an inefficiency in multiple-item auctions. Large bidders reduce demand for additional items and so sometimes lose to smaller bidders with lower values. We demonstrate this inefficiency in an auction model which allows interdependent values. We also establish that the ranking of the uniform-price and pay-as-bid auctions is ambiguous in both revenue and efficiency terms. …
Auctioning Timber To Maximize Revenues In British Columbia, Peter Cramton, Susan Athey, Allan Ingraham
Auctioning Timber To Maximize Revenues In British Columbia, Peter Cramton, Susan Athey, Allan Ingraham
Peter Cramton
US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.
Comments On Alternative Policy Options For Managing Capacity And Mitigating Congestion And Delay At Laguardia Airport, Peter Cramton
Comments On Alternative Policy Options For Managing Capacity And Mitigating Congestion And Delay At Laguardia Airport, Peter Cramton
Peter Cramton
Recommending auctions to manage congestion at LaGuardia.
A Comparison Of Equation-Based And Parity Pricing Of Stumpage Fees For British Columbia Timber Under Long-Term Tenures, Peter Cramton, Susan Athey, Allan Ingraham
A Comparison Of Equation-Based And Parity Pricing Of Stumpage Fees For British Columbia Timber Under Long-Term Tenures, Peter Cramton, Susan Athey, Allan Ingraham
Peter Cramton
US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.
Testing For Anti-Competitive Bidding In Auction Markets, Peter Cramton, Susan Athey, Allan Ingraham
Testing For Anti-Competitive Bidding In Auction Markets, Peter Cramton, Susan Athey, Allan Ingraham
Peter Cramton
US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.
Auction-Based Timber Pricing And Complementary Market Reforms In British Columbia, Peter Cramton, Susan Athey, Allan Ingraham
Auction-Based Timber Pricing And Complementary Market Reforms In British Columbia, Peter Cramton, Susan Athey, Allan Ingraham
Peter Cramton
US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.
Declaration Of Peter Cramton, Peter Cramton
Declaration Of Peter Cramton, Peter Cramton
Peter Cramton
Comments in support of wireless number portability. For Leap Wireless.
Affidavit Of Peter Cramton, Peter Cramton
Affidavit Of Peter Cramton, Peter Cramton
Peter Cramton
Comments on proposed changes to how the energy clearing price is calculated. For ISO New England.
Applied Monetary Policy And Bank Supervision By The Ecb, Mads Andenas, Lazaros E. Panourgias
Applied Monetary Policy And Bank Supervision By The Ecb, Mads Andenas, Lazaros E. Panourgias
Mads Andenas
Monetary policy and banking supervision are closely related and interdependent concepts. Monetary policy and central banking are not defined in such a manner in the Maastricht Treaty that it precludes the European Central Bank from taking on a wider responsibility for financial stability and the handling of banking crises. The article introduced the term 'macro-prudential supervision', explained as 'supervision with a view to safeguarding systemic stability', in a section with the heading 'Default Supervision of Central Banks'.
Misfeasance In Public Office, Governmental Liability And European Influences, Mads Andenas
Misfeasance In Public Office, Governmental Liability And European Influences, Mads Andenas
Mads Andenas
The article deals with the liability of banking regulators in the UK after the BCCI debacle, and provides a wider comparative perspective. It analyses the lack of enforcement culture in the Bank of England, at the systemic failures on the regulatory side that this leads to. The article argues in favour of an extended liability for lack of effective banking supervision, and that banking regulators should be liable where there is a sufficiently breach of the duty to supervise and enforce.
Tradeable Carbon Permit Auctions: How And Why To Auction Not Grandfather, Peter Cramton, Suzi Kerr
Tradeable Carbon Permit Auctions: How And Why To Auction Not Grandfather, Peter Cramton, Suzi Kerr
Peter Cramton
An auction of carbon permits is the best way to achieve carbon caps set by international negotiation to limit global climate change. To minimize administrative costs, permits would be required at the level of oil refineries, natural gas pipe lines, liquid sellers, and coal processing plants. To maximize liquidity in secondary markets, permits would be fully tradable and bankable. The government would conduct quarterly auctions. A standard ascending-clock auction in which price is gradually raised until there is no excess demand would provide reliable price discovery. An auction is preferred to grandfathering (giving polluters permits in proportion to past pollution), …
Spectrum Auctions, Peter Cramton
Spectrum Auctions, Peter Cramton
Peter Cramton
Auctions have emerged as the primary means of assigning spectrum licenses to companies wishing to provide wireless communication services. Since July 1994, the Federal Communications Commission (FCC) has conducted 33 spectrum auctions, assigning thousands of licenses to hundreds of firms. Countries throughout the world are conducting similar auctions. I review the current state of spectrum auctions. Both the design and performance of these auctions are addressed.
The Shield Of Achiles, State, Security And New Wars (El Escudo De Aquiles, Estado, Seguridad Y Nuevas Guerras) Spanish, Fernando Estrada
The Shield Of Achiles, State, Security And New Wars (El Escudo De Aquiles, Estado, Seguridad Y Nuevas Guerras) Spanish, Fernando Estrada
Fernando Estrada
At this stage of the manifestation of irregular warfare conflicts becomes porous, bottom to top and back. The security of states depends on a weak shield vulnerable to unforeseen terrorist actions. This will not come labeled by a single identity but multiplied their masks, may be a timid bystander who walks the streets at noon sweater dress with a teacher dressed and slow. The security policy imposes severe restrictions on basic freedoms, including perhaps most importantly, individual privacy or family.