Auctions, Information, and New Technologies

Karl-Martin Ehrhart () and Marion Ott
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Karl-Martin Ehrhart: Universitaet Karlsruhe, Postal: RZ Zirkel 2 D-76128 Karlsruhe

No 04-05, Sonderforschungsbereich 504 Publications from Sonderforschungsbereich 504, Universität Mannheim, Sonderforschungsbereich 504, University of Mannheim

Abstract: Auctions have been developed for economic transactions with asymmetric information and they are the simplest means of price determination for multilateral trading without �market makers.� During the last years, new technologies gave a boost to the development and usage of innovative auction formats in several fields. We explore some of the new possibilities of applications and explain the differences to traditional auction formats. Furthermore, we demonstrate the potentialities of auctions concerning information gaining for the auctioneer as well as for the participating bidders.

Pages: 18 pages
Date: 2003-10-15
Note: Financial support from the Deutsche Forschungsgemeinschaft, SFB 504, at the University of Mannheim, is gratefully acknowledged.
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Working Paper: Auctions, information, and new technologies (2004)
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