Revenue equivalence and bidding behavior in a multi-unit auction market: an empirical analysis

Article Abstract:

Bidding phenomena such as revenue-equivalence is studied from discriminatory and competitive auctions that have taken place on the Zambian foreign exchange market. Endogenous bidder participation, value-affiliation and risk aversion are the most likely factors that cay result in the break down of revenue-equivalence of discriminatory and competitive formats in multi-unit private-value auctions with bidders who are risk-neutral. A reservation bid is found to be used as a policy tool and higher participation resulted in competitive auctions being revenue-superior.

Auctions, Risk perception, Zambia, Foreign exchange market

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Service quality and motor carrier costs: an empirical analysis

Article Abstract:

The problem of estimating service quality of motor carriers is solved by using service quality data of shippers. A service quality controlled cost function is developed for less-than-truckload carriers. The scale economies of motor carriers are shown to be underestimated when service quality is excluded from the cost function.

Trucking, General Freight Trucking, Trucking & Courier Services, Ex. Air, Customer service

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