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| Registros recuperados: 27 | |
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| Cramton, Peter; Kerr, Suzi. |
| 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), because it allows reduced tax distortions, provides more flexibility in distribution of... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Greenhouse; Climate change; Carbon trading; Auction; Ascending-clock; Tradable permits; Environmental Economics and Policy; Q3; D4. |
| Ano: 1998 |
URL: http://purl.umn.edu/10668 |
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| Taylor, Mykel R.; Dhuyvetter, Kevin C.; Kastens, Terry L.; Douthit, Megan; Marsh, Thomas L.. |
| This study estimates the price determinants of show quality quarter horses sold at auction. Several characteristics including genetic and physical traits, quality of pedigree, and performance record of the horse, as well as the horse's offspring, were found to significantly impact selling price. Sale order positively affected price and appears to be driven by buyers rather than intentional ordering of the horses. A common practice at horse auctions is for the seller to reject the final bid offered and buy back the horse. Model-predicted prices for these buy-back horses indicate they are not undervalued by the final bids, based on their characteristics. |
| Tipo: Journal Article |
Palavras-chave: Auction; Equine; Hedonic pricing; Quarter horses; Demand and Price Analysis. |
| Ano: 2006 |
URL: http://purl.umn.edu/8631 |
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| Wilson, William W.; Dahl, Bruce L.. |
| Bidding competition plays an important role in price discovery and the determination of suppliers in international grains. In this paper we analyze international bidding competition for wheat for a specific importer. Tender data over the period 1993-1999 were analyzed and bid functions estimated by class of wheat (hard red spring, hard amber durum, and hard red winter denoted as HRS, HAD, and HRW, respectively) and by selling firm. A stochastic simulation model was developed to determine the optimal bid and to analyze factors affecting bidding behavior and competition. The tender data indicated there was a surprisingly wide range of bids. Variation of bids across firms submitted for individual HRS tenders had standard deviations that ranged from $5/mt... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Auction; Bidding; Wheat tenders; Optimal bid; U.S.; Canada; Marketing. |
| Ano: 2000 |
URL: http://purl.umn.edu/23285 |
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| Wilson, William W.; Diersen, Matthew A.. |
| Auctions and bidding play an important role in agricultural marketing. A common and noteworthy application of auctions and bidding is that of import tendering which is used for both price determination and the allocation of purchases among sellers. In this study we develop a model to evaluate bidding strategies and competition in Egyptian oilseeds imports. Information included the values of bids submitted by each supplier in each tender over the period 1990 to 1993. Results indicate that generally bids could be predicted for all bidders with a relatively high degree of confidence using simple relationships and accessible data. In addition, for each oil tender there appeared to be groups of bidders characterized by differences in their bid functions.... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Bidding; Auction; International Grain Competition; Grains; Importing; Marketing; International Relations/Trade. |
| Ano: 1999 |
URL: http://purl.umn.edu/23421 |
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| Nielsen, Kurt. |
| Payment entitlements is a new commodity that arises from the new European common agricultural policy. The agricultural subsidies are decoupled from the actual production and replaced by the so-called payment entitlements. A payment entitlement has a farm specific value and may be freely traded. This paper discusses the complexity of this new market and suggests an auction that simplifies the complexity. The suggested auction allows a buyer to simultaneously bid on all payment entitlements. The prices are found by a tatonnement that monotonically approximates the equilibrium prices for the different types of payment entitlements for sale. The auction enhances the competition and efficiency of the market, which is essential for the individual members of the... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Auction; Multiple goods; Bidding agents; Tatonnement; Agricultural subsidies; Agricultural Finance; D44; Q13. |
| Ano: 2005 |
URL: http://purl.umn.edu/24566 |
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| Wilson, William W.; Wilson, Wesley W.. |
| Auctions are common mechanisms for identifying prices and suppliers of commodities and are particularly important in agricultural marketing. Information asymmetries among bidders may be ameliorated over time through some form of learning. In this study, we incorporate prior decisions to participate, information from previous auctions, and firm-specific attributes to explain both the decision to bid and the level of the bid. Our analysis uses data from Egyptian oilseed tenders, an important market both for oilseeds and tendering. Because of the unbalanced nature of the panel data, we are able to evaluate the effects of signals received from previous tenders. We find that firms learn from previous auctions and can gain an informational advantage through... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Auction; Bidding; Tenders; Optimal bids; Learning; Marketing. |
| Ano: 2002 |
URL: http://purl.umn.edu/23647 |
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| Registros recuperados: 27 | |
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