메뉴 건너뛰기




Volumn 60, Issue 4, 2005, Pages 1865-1902

Strategic behavior and underpricing in uniform price auctions: Evidence from finnish treasury auctions

Author keywords

[No Author keywords available]

Indexed keywords


EID: 23944501786     PISSN: 00221082     EISSN: None     Source Type: Journal    
DOI: 10.1111/j.1540-6261.2005.00782.x     Document Type: Article
Times cited : (46)

References (27)
  • 1
    • 0005289278 scopus 로고    scopus 로고
    • An efficient ascending-bid auction for multiple objects
    • University of Maryland
    • Ausubel, Lawrence M., 1997, An efficient ascending-bid auction for multiple objects, Working paper, University of Maryland.
    • (1997) Working Paper
    • Ausubel, L.M.1
  • 2
    • 0009251163 scopus 로고
    • Auctions of divisible goods: On the rationale for the Treasury experiment
    • Back, Kerry, and Jaime F. Zender, 1993, Auctions of divisible goods: On the rationale for the Treasury experiment, Review of Financial Studies 6, 733-764.
    • (1993) Review of Financial Studies , vol.6 , pp. 733-764
    • Back, K.1    Zender, J.F.2
  • 3
    • 0035618455 scopus 로고    scopus 로고
    • Auctions of divisible goods with endogenous supply
    • Back, Kerry, and Jaime F. Zender, 2001, Auctions of divisible goods with endogenous supply, Economics Letters 73, 29-34.
    • (2001) Economics Letters , vol.73 , pp. 29-34
    • Back, K.1    Zender, J.F.2
  • 5
    • 0039378282 scopus 로고    scopus 로고
    • Bidder behavior in uniform price auctions: Evidence from Norwegian Treasury bond auctions
    • Norwegian School of Management
    • Bjønnes, Geir, 2001, Bidder behavior in uniform price auctions: Evidence from Norwegian Treasury bond auctions, Working paper, Norwegian School of Management.
    • (2001) Working Paper
    • Bjønnes, G.1
  • 6
    • 84888577332 scopus 로고    scopus 로고
    • Winner's curse in discriminatory price auctions: Evidence from Norwegian treasury bill auctions
    • Norwegian School of Management
    • Bjønnes, Geir, 2002, Winner's curse in discriminatory price auctions: Evidence from Norwegian treasury bill auctions, Working paper, Norwegian School of Management.
    • (2002) Working Paper
    • Bjønnes, G.1
  • 7
    • 84928437919 scopus 로고
    • Evidence on bidding strategies and the information in treasury bill auctions
    • Cammack, E., 1991, Evidence on bidding strategies and the information in treasury bill auctions, Journal of Political Economy 99, 100-130.
    • (1991) Journal of Political Economy , vol.99 , pp. 100-130
    • Cammack, E.1
  • 8
    • 4344663955 scopus 로고    scopus 로고
    • Underpricing in discriminatory and uniform-price treasury auctions
    • London Business School
    • Goldreich, David, 2003, Underpricing in discriminatory and uniform-price treasury auctions, Working paper, London Business School.
    • (2003) Working Paper
    • Goldreich, D.1
  • 9
    • 0030517604 scopus 로고    scopus 로고
    • Collusion in uniform-price auctions: Experimental evidence and implications for treasury auctions
    • Goswami, Gautam, Thomas H. Noe, and Michael J. Rebello, 1996, Collusion in uniform-price auctions: Experimental evidence and implications for treasury auctions, Review of Financial Studies 9, 757-785.
    • (1996) Review of Financial Studies , vol.9 , pp. 757-785
    • Goswami, G.1    Noe, T.H.2    Rebello, M.J.3
  • 11
    • 0013096779 scopus 로고    scopus 로고
    • An analysis of bidding in the Japanese government bond auctions
    • Hamao, Yasushi, and Narasimhan Jegadeesh, 1998, An analysis of bidding in the Japanese government bond auctions, Journal of Finance 53, 755-772.
    • (1998) Journal of Finance , vol.53 , pp. 755-772
    • Hamao, Y.1    Jegadeesh, N.2
  • 13
    • 4344711257 scopus 로고    scopus 로고
    • Underpricing and market power in uniform price auctions
    • Kremer, Ilan, and Kjell G. Nyborg, 2004a, Underpricing and market power in uniform price auctions, Review of Financial Studies 17, 849-877.
    • (2004) Review of Financial Studies , vol.17 , pp. 849-877
    • Kremer, I.1    Nyborg, K.G.2
  • 14
    • 2442715114 scopus 로고    scopus 로고
    • Divisible good auctions: The role of allocation rules
    • Kremer, Ilan, and Kjell G. Nyborg, 2004b, Divisible good auctions: The role of allocation rules, RAND Journal of Economics 35, 147-159.
    • (2004) RAND Journal of Economics , vol.35 , pp. 147-159
    • Kremer, I.1    Nyborg, K.G.2
  • 15
    • 84959850547 scopus 로고
    • Informed speculation with imperfect competition
    • Kyle, Albert, 1989, Informed speculation with imperfect competition, Review of Economic Studies 56, 317-356.
    • (1989) Review of Economic Studies , vol.56 , pp. 317-356
    • Kyle, A.1
  • 17
    • 5444264863 scopus 로고    scopus 로고
    • Increasable supply and "collusive-seeming equilibria" in the uniform-price auction
    • Stanford University
    • McAdams, David, 1999, Increasable supply and "collusive-seeming equilibria" in the uniform-price auction, Working paper, Stanford University.
    • (1999) Working Paper
    • McAdams, D.1
  • 19
    • 0001757115 scopus 로고
    • A theory of auctions and competitive bidding
    • Milgrom, Paul R., and Robert J. Weber, 1982, A theory of auctions and competitive bidding, Econometrica 50, 1089-1122.
    • (1982) Econometrica , vol.50 , pp. 1089-1122
    • Milgrom, P.R.1    Weber, R.J.2
  • 20
    • 0036245661 scopus 로고    scopus 로고
    • Bidder behavior in multiunit auctions: Evidence from Swedish treasury auctions
    • Nyborg, Kjell G., Kristian Rydqvist, and Suresh Sundaresan, 2002, Bidder behavior in multiunit auctions: Evidence from Swedish treasury auctions, Journal of Political Economy 110, 394-424.
    • (2002) Journal of Political Economy , vol.110 , pp. 394-424
    • Nyborg, K.G.1    Rydqvist, K.2    Sundaresan, S.3
  • 22
    • 0030243415 scopus 로고    scopus 로고
    • Discriminatory versus uniform treasury auctions: Evidence from when-issued transactions
    • Nyborg, Kjell G., and Suresh Sundaresan, 1996, Discriminatory versus uniform treasury auctions: Evidence from when-issued transactions, Journal of Financial Economics 42, 63-104.
    • (1996) Journal of Financial Economics , vol.42 , pp. 63-104
    • Nyborg, K.G.1    Sundaresan, S.2
  • 23
    • 38149145646 scopus 로고
    • Markups, quantity risk, and bidding strategies at treasury coupon auctions
    • Simon, David P., 1994, Markups, quantity risk, and bidding strategies at treasury coupon auctions, Journal of Financial Economics 35, 43-62.
    • (1994) Journal of Financial Economics , vol.35 , pp. 43-62
    • Simon, D.P.1
  • 24
    • 38249009190 scopus 로고
    • Are U.S. treasury bills underpriced in the primary market?
    • Spindt, Paul A., and Richard W. Stolz, 1992, Are U.S. treasury bills underpriced in the primary market? Journal of Banking and Finance 16, 891-908.
    • (1992) Journal of Banking and Finance , vol.16 , pp. 891-908
    • Spindt, P.A.1    Stolz, R.W.2
  • 25
    • 0001195686 scopus 로고
    • An empirical study of the Mexican treasury bill auction
    • Umlauf, Steven, 1993, An empirical study of the Mexican treasury bill auction, Journal of Financial Economics 33, 313-340.
    • (1993) Journal of Financial Economics , vol.33 , pp. 313-340
    • Umlauf, S.1
  • 26
    • 0036014368 scopus 로고    scopus 로고
    • Auctioning divisible goods
    • Wang, James D., and Jaime F. Zender, 2002, Auctioning divisible goods, Economic Theory 19, 673-705.
    • (2002) Economic Theory , vol.19 , pp. 673-705
    • Wang, J.D.1    Zender, J.F.2


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.