Experimental and theoretical essays in auctions and financial markets [Elektronische Ressource] / vorgelegt von Sotirios Georganas

Experimental and theoretical essays in auctions and nancial marketsInaugural Dissertationzur Erlangung des Grades eines Doktorsder Wirtschafts- und Gesellschaftswissenschaftendurch dieRechts- und Staatswissenschaftliche Fakult at derRheinischen Friedrich-Wilhelms-Universit at Bonnvorgelegt vonSotirios Georganasaus Athen, GriechenlandBonn, 2010Dekan: Professor Dr. Erik TheissenErstreferent: Professor Dr. Reinhard SeltenZweitreferent: Dr. Rosemarie NagelMundlic he Prufung: 13.03.2009 στους γον εις μου ( και χρηματοδ οτες μου) AbstractThis dissertation deals with auctions and other, financial market mechanisms, andhow they work in real life situations. Such mechanisms have been extensively studiedin economics and many elegant results have been gained. These results have beenalso used in the design of real life auctions, competitions and financial markets. Inthisdissertation, I showthattherearerelevantfactsthatshouldinfluence mechanismdesign for practical purposes, but are omitted in the main corpus of the literature.One of these facts, explored in the first chapter of the dissertation, based on asingle authored manuscript of this author, deals with resale possibilities. Whenevera durable good is sold, there is always a possibility that it will be resold. Evenwhen such resale is forbidden, many imaginative ways have been found to overcomethe restrictions.