Artikel
Auctions versus private negotiations in buyer-seller networks
Buyer-seller networks where price is determined by an ascending-bid auction are important in many economic examples such as certain real estate markets, radio spectrum sharing, and buyer-supplier networks. However, it may be that some sellers are better off not participating in the auction. We consider what happens if sellers can make a take it or leave it offer to one of their linked buyers before the auction takes place and thus such a seller can choose not to participate in the auction. We give conditions on the graph and buyers valuations under which the buyer and seller will both agree to such a take it or leave it offer. Specifically, the buyer-seller pair will choose private negotiation over the auction if the seller acts as a network bridge with power over the buyer and if there are enough buyers with low valuations so that the seller does not expect to receive a high price in the auction.
- Sprache
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Englisch
- Erschienen in
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Journal: Games ; ISSN: 2073-4336 ; Volume: 7 ; Year: 2016 ; Issue: 3 ; Pages: 1-14 ; Basel: MDPI
- Klassifikation
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Wirtschaft
Auctions
Network Formation and Analysis: Theory
- Thema
-
auctions
buyer-seller networks
bridges
- Ereignis
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Geistige Schöpfung
- (wer)
-
Watts, Alison
- Ereignis
-
Veröffentlichung
- (wer)
-
MDPI
- (wo)
-
Basel
- (wann)
-
2016
- DOI
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doi:10.3390/g7030022
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Artikel
Beteiligte
- Watts, Alison
- MDPI
Entstanden
- 2016
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