Tepper School of Business

 

 

45-871 Trade and Investment Strategy

 

                                                                                                                                      

                                                                                                                                     Professor Robert A. Miller  ramiller@cmu.edu

                                                                                                                                     Teaching Assistant

                                                                                                                                      Hoang-Anh Nguyen hoangann@andrew.cmu.edu

Yizhen Xie yizhenxi@andrew.cmu.edu

 

 

 

 

A.    AUCTIONS AND PROCUREMENT

 

Supplementary Material and Games used in this portion of the course

 

 

Wednesday October 25:          1. Texas CD Auctions

1.1  Bidding Frictions in Ascending Auctions

1.2  A Simple Example of a Multiunit Ascending Auction

 

Monday October 30:               2. Strategic Equivalence

                                                 2.1 First Price and Dutch Private Value Auction Game (right click to save)

                                                 2.2 First Price and Dutch Common Value Auction Game  (right click to save)                                        

 

Wednesday November 1:        3. Revenue Equivalence

                                                 3.1 The Revenue Equivalence Theorem

                                                3.2 Revenue from Private Value Auctions

                                                3.3 Bidding in a FPSB Auction

                                                3.4 Differential Information in a FPSB auction

                                               3.5 Second Price Sealed bid and English Auction Game (right click to save)

                                               3.6 First Price Sealed Bid Procurement Auction Game (right click to save)

                                               3.7 Differential Info Takeover Common Value Game (right click to save)

 

Monday November 6:            4. Procurement

4.1 Winning by Default: Why is there so little competition in government procurement?