haku: @indexterm privatization / yhteensä: 703
viite: 18 / 703
| Tekijä: | Boone, J. Goeree, J.K. |
| Otsikko: | Optimal privatisation using qualifying auctions |
| Lehti: | Economic Journal
2009 : JAN, VOL. 119:534, p. 277-297 |
| Asiasana: | models auctions bidding privatization |
| Vapaa asiasana: | public assets |
| Kieli: | eng |
| Tiivistelmä: | This article explores using of auctions for privatising public assets. In the model, a single 'insider' bidder has got information about the asset's common value. Bidders are privately informed about their costs of exploiting the asset. The optimal mechanism is shown to discriminate against the informationally advantaged bidder. It can be implemented via a two-stage 'qualifying auction'. In the 1st stage, non-binding bids are submitted to determine who enters the 2nd stage, consisting of a standard second-price auction augmented with a reserve price. |
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