Group Decision and Negotiation (GDN) 2006 International Conference Karlsruhe, Germany, June 25 – 28, 2006 Proceedings

Total Page:16

File Type:pdf, Size:1020Kb

Group Decision and Negotiation (GDN) 2006 International Conference Karlsruhe, Germany, June 25 – 28, 2006 Proceedings Stefan Seifert / Christof Weinhardt (Eds.) Group Decision and Negotiation (GDN) 2006 International Conference Karlsruhe, Germany, June 25 – 28, 2006 Proceedings Group Decision and Negotiation (GDN) 2006 International Conference Karlsruhe, Germany, June 25 – 28, 2006 Proceedings Editors Stefan Seifert Christof Weinhardt Universität Karlsruhe (TH) Institute of Information Systems and Management (IISM) Englerstraße 14 76131 Karlsruhe Germany Impressum Universitätsverlag Karlsruhe c/o Universitätsbibliothek Straße am Forum 2 D-76131 Karlsruhe www.uvka.de Dieses Werk ist unter folgender Creative Commons-Lizenz lizenziert: http://creativecommons.org/licenses/by-nc-nd/2.0/de/ Universitätsverlag Karlsruhe 2006 Print on Demand ISBN 3-86644-044-8 Program Committee Conference Board Melvin F. Shakun (General chair), New York University Rudolf Vetschera (General chair), University of Vienna Christof Weinhardt (Program chair), Universit¨at Karlsruhe (TH) Gregory Kersten, Concordia University, Montreal Marc Kilgour, Wilfrid Laurier University, Waterloo Program Committee Christof Weinhardt (Chair), Universit¨at Karlsruhe (TH) Melvin F. Shakun, New York University Rudolf Vetschera, University of Vienna Gregory Kersten, Concordia University, Montreal Marc Kilgour, Wilfrid Laurier University, Waterloo Fran Ackerman, University of Strathclyde Deepinder Bajwa, Western Washington University Jo˜ao Cl´ımaco, University of Coimbra Joao Paulo Costa, University of Coimbra Colin Eden, University of Strathclyde Paul Gruenbacher, University of Linz Raimo P. Hamalainen, Helsinki University of Technology Keith W. Hipel, University of Waterloo Hsiangchu Lai, Sun Yat-Sen University Floyd Lewis, Western Washington University Hannu Nurmi, University of Turku David Rios-Insua, Universidad Rey Juan Carlos, Madrid Mareike Schoop, University of Hohenheim Gert-Jan de Vreede, University of Nebraska at Omaha Pascale Zarat´e, IRIT Local Organizing Committee Stefan Seifert, Universit¨at Karlsruhe (TH) Carsten Block, Universit¨at Karlsruhe (TH) Anke Plog, Universit¨at Karlsruhe (TH) Christof Weinhardt, Universit¨at Karlsruhe (TH) Contents Preface Melvin F. Shakun and Rudolf Vetschera .................................... XV Foreword Christof Weinhardt and Stefan Seifert .....................................XVI Part I Keynote Presentations E-Negotiations Systems and Processes: Lessons from Invite Design Gregory E. Kersten ................................................... 3 Fallback Bargaining D. Marc Kilgour ................................................... ..... 4 Connectedness, Spirituality, and Rationality in GDN Melvin F. Shakun ................................................... .... 8 New Directions in Automated Negotiation Katia P. Sycara ................................................... ...... 9 Future Opportunities for Group Decision and Negotiations Murray Turoff ................................................... ....... 12 Collaboration Engineering: Current Directions and Future Opportunities Gert-Jan de Vreede ................................................... 15 Part II Invited Multi-Session Track Facilitation and Collaboration Engineering of Group Decision Making & Negotiation Introduction Gert-Jan de Vreede ................................................... 23 Contents VII Supporting Negotiation — A Licence to Move Forward Fran Ackermann, Colin Eden ............................................. 25 Supporting the Collaborative Collection of User’s Requirements Carlos E. Acosta, Luis A. Guerrero ........................................ 27 Collective Causal Mapping Methodology ANCOM2: Aggregating or Filtering? (A synthesis of several case studies in management sciences) Tatiana Bouzdine-Chameeva .............................................. 31 The Value Frequency Model: Toward a Theoretical Understanding of Organizational Change Robert O. Briggs ................................................... ..... 36 Experiences in Attempting to Combine Group Support Methods Colin Eden, Fran Ackermann, John Bryson, Charles Finn, David Andersen, George Richardson ................................................... 40 Participant-Driven Group Support Systems to Support Large, Distributed Group Facilitation Joel H. Helquist, John Kruse, Mark Adkins ................................. 42 Collaboration Process Design Transition to Practitioners: Requirements form a Cognitive Load Perspective Gwendolyn Kolfschoten, Sandra van der Hulst............................... 45 Choice Criteria for Facilitation Techniques: A Preliminary Classification Gwendolyn L. Kolfschoten, Eti¨enne A. J. A. Rouwette ....................... 49 A Training Approach for the Transition of Repeatable Collaboration Processes to Practitioners Gwendolyn Kolfschoten, Gert-Jan de Vreede, Leah R. Pietron ................. 53 A Favourable Knowledge Management Context: Application of the Causal Mapping Technique Rania Labaki, Val´erie Pallas, Tatiana Bouzdine-Chameeva .................... 57 Towards a Group Decision Support Framework for Complex Issues Paulo Melo, Francisco Antunes, Jo˜ao Paulo Costa ........................... 61 An Exploration of How Men and Women Differ in Using Contextual Cues to Make Attributions during Virtual Collaboration Ruth Ter Bush, Daniel Mittleman ......................................... 63 VIII Contents Part III Invited Session GSS Assimilation: Issues and Impacts Introduction Deepinder S. Bajwa, L. Floyd Lewis ....................................... 69 Post Adoption Impacts of Collaborative Information Technologies: Research Model and Case Evidence Deepinder S. Bajwa, L. Floyd Lewis ....................................... 70 A Team Decision Framework for Quality Decision Outcomes Des Klass, Olive Schmidenberg, John de Reuck .............................. 74 Key Issues for GSS Research Graham Pervan, David Arnott ............................................ 78 Part IV Perspectives of Supply Strategies: Theoretical and Experimental Considerations Introduction Karl-Martin Ehrhart................................................... 85 An Experiment on Auction Fever Susanne Abele, Karl-Martin Ehrhart, Marion Ott ........................... 86 Collaborative Software Networks Competition in the Presence of Sponsored User Orientation: A Game Theoretic Analysis Christian Hoppe ................................................... ..... 89 Experimental Investigation of Supplier-Retailer Contracts Claudia Keser, Giuseppe Paleologo ........................................ 92 Part V Invited Session Advances in Graph Model and Negotiation Technologies Introduction D. Marc Kilgour, Keith W. Hipel .......................................... 97 Bilateral Negotiation Using Case-based Distance Methods Ye Chen, D. Marc Kilgour, Keith W. Hipel ................................. 98 Perceptual Graph Models Amer Obeidi, D. Marc Kilgour, Keith W. Hipel ............................. 99 Contents IX Negotiations over the Caspian Sea: A Preliminary Graph Model Analysis Majid Sheikhmohammady, D. Marc Kilgour, Keith W. Hipel .................. 100 Part VI Invited Session Empirical Research on Electronic Negotiations Introduction Sabine K¨oszegi, Stefan Strecker ........................................... 105 Assessment of an Electronic Auction System: Beliefs about Usage, System and Institution on Intention to Use Eva Chen, Ilka Weber ................................................... 106 Phase Analysis of Behavior in E-Negotiations Emphasizing the Effect of Negotiator Relationship Eva-Maria Pesendorfer, Andrea Graf, Sabine T. Koeszegi ..................... 108 An Empirical Study on the Use of Communication Media in Electronic Negotiations Mareike Schoop, Frank K¨ohne, Dirk Staskiewicz ............................. 111 Part VII Invited Session Invite Negotiation Platform and Experiments Introduction Simone A. Ludwig, Eva H. Chen .......................................... 117 Negotiation Agreement Modeling Using SEM R´eal Carbonneau, Jamshid Etezadi-Amoli, Gregory E. Kersten ................ 118 An E-negotiation Experiment on the Effects of Integrativeness on the Negotiation Process and Outcome Eva H. Chen, Simone A. Ludwig .......................................... 120 A General Parametric Function for Utility Assessment Jamshid Etezadi-Amoli, Tak Mak .......................................... 123 The Effectiveness of Complex Bargaining Styles in Dyadic Negotiations Xianhua Huang, Gregory E. Kersten, Simone A. Ludwig ..................... 125 Issues in Developing ENS for Negotiations and Auctions JinBaek Kim ................................................... ........ 127 X Contents Part VIII Invited Session Group Decisions, Negotiation and Emotion Introduction Bilyana Martinovsky ................................................... 131 Investigating Mind Markers in Design Meetings Dirk Heylen ................................................... ......... 132 Emotion, Language and Negotiation Bilyana Martinovsky ................................................... 135 Part IX Invited Session Electronic Participation Introduction Jesus Rios ................................................... .......... 143 Participation and Food Chain Risks Simon French, Clare Bayley, Nan Zhang ................................... 144 Supporting the Elaboration of a Participatory Budget Over the Internet Jesus Rios, David Rios Insua ............................................ 147 Graphical Visualization Tools in AHP-Group Decision Making Alberto Tur´on, Jos´eMar´ıa Moreno-Jim´enez ................................ 150 Part X Invited
Recommended publications
  • Comparing Auction Designs Where Suppliers Have Uncertain Costs and Uncertain Pivotal Status
    RAND Journal of Economics Vol. 00, No. 0, Winter 2018 pp. 1–33 Comparing auction designs where suppliers have uncertain costs and uncertain pivotal status ∗ Par¨ Holmberg and ∗∗ Frank A. Wolak We analyze how market design influences bidding in multiunit procurement auctions where suppliers have asymmetric information about production costs. Our analysis is particularly relevant to wholesale electricity markets, because it accounts for the risk that a supplier is pivotal; market demand is larger than the total production capacity of its competitors. With constant marginal costs, expected welfare improves if the auctioneer restricts offers to be flat. We identify circumstances where the competitiveness of market outcomes improves with increased market transparency. We also find that, for buyers, uniform pricing is preferable to discriminatory pricing when producers’ private signals are affiliated. 1. Introduction Multiunit auctions are used to trade commodities, securities, emission permits, and other divisible goods. This article focuses on electricity markets, where producers submit offers before the level of demand and amount of available production capacity are fully known. Due to demand shocks, unexpected outages, transmission-constraints, and intermittent output from renewable energy sources, it often arises that an electricity producer is pivotal, that is, that realized demand is larger than the realized total production capacity of its competitors. A producer that is certain to be pivotal possess a substantial ability to exercise market power because it can withhold output ∗ Research Institute of Industrial Economics (IFN), Associate Researcher of the Energy Policy Research Group (EPRG), University of Cambridge; [email protected]. ∗∗ Program on Energy and Sustainable Development (PESD) and Stanford University; [email protected].
    [Show full text]
  • Introduction to Auctions
    ARE 202 Villas-Boas Introduction to auctions What is an Auction? 1. A public sale in which property or merchandise are sold to the highest bidder. 2. A market institution with explicit rules determining resource allocation and prices on the basis of bids from participants. 3. Games: The bidding in bridge, for example. Examples of Auctions FCC Spectrum McMillan, 1994, Selling Spectrum Rights, JEP. http://www.paulklemperer.org Procurement Auctions Treasury Bills Internet Wine Options Quota Rights, Auctioning countermeasures in WTO Working paper, Bagwell K., Staiger R., et al: http://www.ssc.wisc.edu/~rstaiger/auctionation071803.pdf 1 ARE 202 Villas-Boas Lots of good theory and empirical work. • Game is simple with well defined rules • Actions are observed directly • Payoffs can sometimes be inferred Also, a lot of data • Government sales: o Timber rights, mineral rights, oil and gas, treasury bills, spectrum auctions, emission permits, electricity • Government sales: o Defense, construction, school milk • Private sector: o Auctions houses, agriculture, real estate, used cars, machinery • Online auctions: Many possible mechanisms • Open versus sealed • First price versus second price • Secret versus fixed reserve price 2 ARE 202 Villas-Boas Several Formats: 4 auction types: • First-price sealed-bid auction: you don’t see your opponents’ bids. Highest bid wins. Winner pays her bid, b. The winner’s profit is: v−b. Losers get nothing. • Second-price sealed-bid auction: you don’t see your opponents’ bids. Highest bid wins. Winner pays the second highest bid in the auction. Therefore the winner’s profit is: v minus the second highest bid. Losers get nothing.
    [Show full text]
  • CO2 Emission Allowance Allocation Mechanisms, Allocative Efficiency and the Environment
    CO2 emission allowance allocation mechanisms, allocative efficiency and the environment Stefan Weishaar [email protected] Metro Maastricht University The Netherlands Proposal for a paper to be presented at: First annual meeting of the Asian Law and Economics Association Seoul National University, Korea 24-25 June 2005 University of Maastricht, Faculty of Law PO Box 616, 6200 MD Maastricht The Netherlands Tel: +31-43-3883060 Fax: +31-43-3259091 E-mail: [email protected] Abstract: The paper places allocation mechanisms into a framework of emission trading systems and analyses these mechanisms within a closed static economy and an open dynamic economy with regard to price determination, allocative efficiency and environmental considerations. Firstly the paper examines how market-based allocation mechanisms (auctions) perform in light of the above issues. Secondly the paper distinguishes between the two types of administrative allocation mechanisms: (1) financial administrative allocation mechanisms, combining payment schemes with bureaucratic expertise, and (2) free administrative allocation mechanisms, based inter alia on industrial policy considerations and on passed emission records (grandfathering). In particular, the value added of "relative performance standards" as an allocation mechanism is examined. The overall finding is that in a closed static economy and in the presence of an efficient trading market, different allocation methods produce equally efficient outcomes in allocative and environmental respects. With regard to an open dynamic economy impacts of initial allocation mechanisms resemble those of a static closed economy. In an open economy the upper limit to the internalisation of negative externalities is given by operator’s costs of environmentally harmful relocation and hence the cost burden placed upon operators is crucial.
    [Show full text]
  • Introduction to Auction
    E Business Professor Mamata Jenamani Department of Industrial and Systems Engineering Indian Institute of Technology Kharagpur Lecture-57 Introduction to Auction Welcome back in continuation with our last lecture on dynamic pricing where we learned that dynamic pricing is very natural and it has it is convenient to implement fixed pricing that is why people were going for fixed pricing but because of Internet, now again dynamic pricing has become a reality. So in this context we saw there are many dynamic pricing models out of which we have chosen to discuss about auctions. In today’s class we are going to learn about different kinds of auctions, how to classify auctions and look at few applications if possible. (Refer Slide Time: 1:06) Now what are auctions? Auctions are again very oldest form of market. In fact if you look at the history, probably you can have the evidence of auction being happening even before price even I mean the, it has the written history of at least 500 BC. And the auctions like that of your reverse auction or auctions at EBay and similar such sites are the recent phenomena which is which means this auction has always been there and will be there. This is because as we know this provides a first-degree differentiation where actually the price can be decided based on the demand and supply conditions. Now, example of this auction is not limited to online buying, in fact starting from your spectrum auction for which there has been certain I mean even in India people were talking about this auctions and all for selling spectrum and the selling spectrum to auction is very old.
    [Show full text]
  • (12) Patent Application Publication (10) Pub. No.: US 2002/0095369 A1 Kaplan Et Al
    US 2002O095369A1 (19) United States (12) Patent Application Publication (10) Pub. No.: US 2002/0095369 A1 Kaplan et al. (43) Pub. Date: Jul.18, 2002 (54) ANONYMOUSAUCTIONING OF (52) U.S. Cl. ................................................................ 705/37 STRUCTURED FINANCIAL PRODUCTS OVER A COMPUTER NETWORK (76) Inventors: Harry A. Kaplan, Brooklyn, NY (US); (57) ABSTRACT Patrick F. Downes, Greenwich, CT (US) A method and System for anonymously buying and Selling a Structured financial product over a computer network Correspondence Address: Brian P. Hopkins includes providing a host for receiving information for the Mintz, Levin, Cohn, Ferris, offer for sale of a structured financial product from a first Glovsky and Popeo, P.C. client, anonymously publishing the offer for Sale of the One Financial Center Structured financial product over a computer network by the Boston, MA 02111 (US) host to a plurality of Second clients over the computer network for a predetermined period of time, initiating the (21) Appl. No.: 10/043,899 offer for sale of the product over the network at a prescribed Starting time, providing an opportunity for the plurality of (22) Filed: Jan. 11, 2002 Second clients to bid on the product in real-time during the period of time, automatically publishing to the plurality of Related U.S. Application Data Second clients viewing the Sale of the product each bid in Non-provisional of provisional application No. real-time as each bid is submitted by one of the second (63) clients, wherein a Substantial number of all Submitted bids 60/261,502, filed on Jan. 12, 2001. are displayed together during the offer for Sale, and awarding Publication Classification the Structured financial product to a Second client of the plurality of the second clients submitting the highest bid by (51) Int.
    [Show full text]
  • The Following Pages Contain the Detailed Scoring for This Company Based on Publicly Available Information
    The following pages contain the detailed scoring for this company based on publicly available information. The table below shows a summary of the company’s scores per section: Score Based on Section Number of Questions* Publicly Available Information 1. Leadership and Organisational Culture 4 5/8 2. Internal Controls 6 7/12 3. Support to Employees 7 4/14 4. Conflict of Interest 4 1/8 5. Customer Engagement 6 3/12 6. Supply Chain Management 5 3/10 7. Agents, Intermediaries and Joint Ventures 10 0/20 8. Offsets 4 0/8 9. High Risk Markets 4 3/8 10. State-Owned Enterprises 5 6/10 TOTAL 32 / 110 BAND E *This column represents the number of questions on which the company was eligible to receive a score; i.e. where the company did not receive a score of N/A. 1 1. Leadership and Organisational Culture Question 1.1. Does the company have a publicly stated anti-bribery and corruption commitment, which is authorised by its leadership? Score 2 Comments There is evidence that the company has a publicly stated anti-corruption commitment, which details the company’s stance against corruption within the organisation. It is clear that this commitment was authorised and endorsed by the company’s leadership. Evidence [1] Vigilance Manual- 2018 (Document) Accessed 07/08/2019 http://www.bel-india.in/Documentviews.aspx?fileName=BEL_Vigilance_Manual_2018.pdf [p.7] M.V.GOWTAMA CHAIRMAN & MANAGING DIRECTOR CMD’s FOREWORD Vigilance is an important management function. Vigilance is an essential organ of Management. Like other segments of management, its role is to take forward the organization in a healthy transparent environment.
    [Show full text]
  • Efficient Multiunit Auctions for Normal Goods
    Theoretical Economics 15 (2020), 361–413 1555-7561/20200361 Efficient multiunit auctions for normal goods Brian Baisa Department of Economics, Amherst College I study multiunit auction design when bidders have private values, multiunit de- mands, and non-quasilinear preferences. Without quasilinearity, the Vickrey auc- tion loses its desired incentive and efficiency properties. I give conditions under which we can design a mechanism that retains the Vickrey auction’s desirable in- centive and efficiency properties: (1) individual rationality, (2) dominant strategy incentive compatibility, and (3) Pareto efficiency. I show that there is a mechanism that retains the desired properties of the Vickrey auction if there are two bidders who have single-dimensional types. I also present an impossibility theorem that shows that there is no mechanism that satisfies Vickrey’s desired properties and weak budget balance when bidders have multidimensional types. Keywords. Multiunit auctions, multidimensional mechanism design, wealth ef- fects. JEL classification. D44, D47, D61, D82. 1. Introduction 1.1 Motivation Understanding how to design auctions with desirable incentive and efficiency proper- ties is a central question in mechanism design. The Vickrey–Clarke–Groves (hereafter, VCG) mechanism is celebrated as a major achievement in the field because it performs well in both respects—agents have a dominant strategy to truthfully report their private information and the mechanism implements an efficient allocation of resources. How- ever, the VCG mechanism loses its desired incentive and efficiency properties without the quasilinearity restriction. Moreover, there are many well-studied cases where the quasilinearity restriction is violated: bidders may be risk averse, have wealth effects, face financing constraints, or be budget constrained.
    [Show full text]
  • Online Auction Markets
    Online Auction Markets by Song Yao Department of Business Administration Duke University Date: Approved: Carl Mela, Chair Han Hong Wagner Kamakura Andr´esMusalem Dissertation submitted in partial fulfillment of the requirements for the degree of Doctor of Philosophy in the Department of Business Administration in the Graduate School of Duke University 2009 Abstract (Business Administration) Online Auction Markets by Song Yao Department of Business Administration Duke University Date: Approved: Carl Mela, Chair Han Hong Wagner Kamakura Andr´esMusalem An abstract of a dissertation submitted in partial fulfillment of the requirements for the degree of Doctor of Philosophy in the Department of Business Administration in the Graduate School of Duke University 2009 Copyright c 2009 by Song Yao All rights reserved except the rights granted by the Creative Commons Attribution-Noncommercial Licence Abstract Central to the explosive growth of the Internet has been the desire of dispersed buy- ers and sellers to interact readily and in a manner hitherto impossible. Underpinning these interactions, auction pricing mechanisms have enabled Internet transactions in novel ways. Despite this massive growth and new medium, empirical work in mar- keting and economics on auction use in Internet contexts remains relatively nascent. Accordingly, this dissertation investigates the role of online auctions; it is composed of three essays. The first essay, “Online Auction Demand,” investigates seller and buyer interac- tions via online auction websites, such as eBay. Such auction sites are among the earliest prominent transaction sites on the Internet (eBay started in 1995, the same year Internet Explorer was released) and helped pave the way for e-commerce.
    [Show full text]
  • Combinatorial Auction Glossary
    In Peter Cramton, Yoav Shoham, and Richard Steinberg (eds.), Combinatorial Auctions, MIT Press, 2006. Combinatorial Auction Glossary additive set function A set function f is additive if and only if f ðS W TÞ¼ f ðSÞþ f ðTÞ for all dis- joint S and T. activity A measure of the quantity of bidding in a round by a bidder in a simultaneous ascending auction. Activity includes both standing high bids and new bids in the round. In spectrum auc- tions, activity is measured in units of bandwidth times the number of people covered by the license (e.g., MHz-pop). In electricity auctions, the quantity is in energy units (e.g., MWh). activity rule A restriction on allowable bids intended to maintain the pace and encourage price discovery in simultaneous ascending auctions. This is done by preventing the ‘‘snake in the grass’’ strategy, in which a bidder maintains a low level of activity early in the auction and then greatly expands his demand late in the auction. The activity rule forces a bidder to maintain a minimum level of activity to preserve current eligibility. Typically, the activity requirement increases in stages. For example, the activity requirement might be 60 percent in stage 1, 80 percent in stage 2, and 100 percent in stage 3 (the final stage). With a 60 percent activity requirement, each bidder must be active on a quantity of items, equal to at least 60 percent of the bidder’s current eligibil- ity. If activity falls below the 60 percent level, then the bidder’s current eligibility is reduced to its current activity divided by 60 percent.
    [Show full text]
  • Akademia Baru Analyzing Factors That Influence Public Sector
    Penerbit Akademia Baru Journal of Advanced Research Design ISSN (online): 2289-7984 | Vol. 2, No. 1. Pages 20-25, 2014 Analyzing Factors that Influence Public Sector Procurement Reverse Auction System: A Review M. S. Zulkifli *,1,a, M. F. Said 2,b and C. W. Chong 2,c 1Putra Business School, Universiti Putra Malaysia, 43400 Serdang, Selangor, Malaysia. 2Faculty of Economics & Management, Universiti Putra Malaysia, 43400 Serdang, Selangor, Malaysia. 3Faculty of Economics & Management, Universiti Putra Malaysia, 43400 Serdang, Selangor, Malaysia. a,* [email protected], [email protected], [email protected] Abstract – This study was performed to review the conceptualization and relationships among user behaviour, system quality and intention to use eBidding, an eGovernment auction system with user satisfaction as the moderator. From the theoretical framework, user behaviour and system quality factors have significant relationships with the adoption of information system (IS). Empirical evidence also shows that satisfaction has a significant moderating effect on the relationship between system quality factors with the adoption of IS. Given the significant impact of behavioural factors of officials in eBidding adoption and role satisfaction on the intention and use of eGovernment system, system managers could introduce key changes in the workplace to increase satisfaction to address the problems of low eBidding adoption among users. Copyright © 2014 Penerbit Akademia Baru - All rights reserved. Keywords: eBidding, Online Procurement Auction, Electronic Government, eCommerce 1.0 INTRODUCTION Electronic reverse auction system (eRAs) provides real-time internet transaction between a purchaser and multiple suppliers. In this type of auction, suppliers compete among themselves online using specific software by continuously offering lower-priced bids during a specified transaction cycle [1].
    [Show full text]
  • Bidder Behavior in Multiunit Auctions: Evidence from Swedish Treasury Auctions Author(S): Kjell G
    Bidder Behavior in Multiunit Auctions: Evidence from Swedish Treasury Auctions Author(s): Kjell G. Nyborg, Kristian Rydqvist, Suresh M. Sundaresan Source: The Journal of Political Economy, Vol. 110, No. 2 (Apr., 2002), pp. 394-424 Published by: The University of Chicago Press Stable URL: http://www.jstor.org/stable/3078454 Accessed: 03/08/2010 10:55 Your use of the JSTOR archive indicates your acceptance of JSTOR's Terms and Conditions of Use, available at http://www.jstor.org/page/info/about/policies/terms.jsp. JSTOR's Terms and Conditions of Use provides, in part, that unless you have obtained prior permission, you may not download an entire issue of a journal or multiple copies of articles, and you may use content in the JSTOR archive only for your personal, non-commercial use. Please contact the publisher regarding any further use of this work. Publisher contact information may be obtained at http://www.jstor.org/action/showPublisher?publisherCode=ucpress. Each copy of any part of a JSTOR transmission must contain the same copyright notice that appears on the screen or printed page of such transmission. JSTOR is a not-for-profit service that helps scholars, researchers, and students discover, use, and build upon a wide range of content in a trusted digital archive. We use information technology and tools to increase productivity and facilitate new forms of scholarship. For more information about JSTOR, please contact [email protected]. The University of Chicago Press is collaborating with JSTOR to digitize, preserve and extend access to The Journal of Political Economy. http://www.jstor.org Bidder Behavior in MultiunitAuctions: Evidence from Swedish TreasuryAuctions KjellG.
    [Show full text]
  • Strategic Behavior and Underpricing in Uniform Price Auctions Evidence from Finnish Treasury Auctions
    Strategic Behavior and Underpricing in Uniform Price Auctions Evidence from Finnish Treasury Auctions Matti Keloharju Kjell G. Nyborg Kristian Rydqvist1 May 2004 1We are indebted to Markku Malkam¨aki for institutional information and making the data available to us and to Tron Foss for help on technical issues. We are grateful to Matti Ilmanen of Nordea, Raija Hyv¨arinen, Antero J¨arvilahti, Jukka J¨arvinen, Ari-Pekka L¨atti, and Juhani Rantala of the State Treasury of Finland, and to Jouni Parviainen and Samu Peura of Sampo Bank for providing us with institutional information. We also wish to thank Geir Bjønnes, Martin Dierker, David Goldreich, Alex Goriaev, Burton Hollifield, Ilan Kremer, Espen Moen, Suresh Paul, Avi Wohl, Jaime Zender and, especially, an anonymous referee, as well as semi- nar participants at the Bank of England, Binghamton University, Copenhagen Business School, Deutsche Bundesbank, European Central Bank, European Finance Association (Berlin 2002), Fondazione Eni Enrico Mattei, German Finance Association, G¨oteborg University, Helsinki and Swedish School of Economics joint seminar, Humboldt University in Berlin, Lausanne, Lon- don Business School, London School of Economics, Nordea, Norwegian School of Management (BI), Norwegian School of Economics (NHH), Stanford, State Treasury of Finland, University of Bergen, University of Frankfurt, Western Finance Association (Utah 2002), and the UK Debt Management Office for comments and suggestions. Finally, we want to thank Helsinki School of Economics Support Foundation and Foundation for Savings Banks for financial support. Kelo- harju: Helsinki School of Economics and CEPR, email: keloharj@hkkk.fi; Nyborg: UCLA and CEPR. Mailing address: UCLA Anderson School of Management, Box 951481, Los Angeles, CA 90095-1481.
    [Show full text]