The Bidder’s Curse

We employ a novel approach to identify overbidding in auctions. We compare online auction prices to fixed prices for the same item on the same webpage. In detailed data on auctions of a board game, 42 percent of auctions exceed the simultaneous fixed price. The result replicates in a broad cross-section of auctions (48 percent overbidding). A small fraction of overbidders, 17 percent of bidders, suffices to generate the large fraction of auctions with overbidding. We show that the observed behavior is inconsistent with rational behavior, even allowing for uncertainty about prices and switching costs, since the expected auction price also exceeds the fixed price. Limited attention best explains our results

Challenging the monopoly of mobile termination charges with an Auction-based Charging and User-centric System (AbaCUS)

Nowadays, in mobile communication only the Mobile Network Operator (MNO) of the callee is able to terminate his calls. Thus, in the MNOs call-termination market there is only one player profiting from call-termination rates; in turn this market is considered to be a de facto monopoly since the early days of the introduction of commercial mobile communication services. Given this monopoly fact, the only solution against a potential speculation by MNOs was the regulation of termination rates. However, since the initiation of mobile communications, many issues on mobile terminal devices and network infrastructure have changed. Furthermore, today the mobile networks infrastructure does not support only voice services but data as well. In such an environment multiple MNOs could terminate a call. However, in this case the caller has to set only his final cost preference without any knowledge on MNOs termination rate charging policies. Therefore, this paper considers those changes and challenges the monopoly of the MNOs call-termination by proposing an Auction-based Charging and User-centric System called “AbaCUS”, which overcomes the monopoly obstacle of this market. The key characteristic of the auction proposed for AbaCUS is the honest bid that participants are “forced” to make. Finally, this work is expected to show that MNOs will benefit by the existence of a calltermination-free market through the establishment of Quality-of-Service (QoS)-guaranteed services

The mixed experience of achieving business benefit from the internet : a multi-disciplinary study

From 1995 the Internet attracted commercial investment, but financially measurable benefits and competitive advantage proved elusive. Usage for personal communication and business information only slowly translated into commercial transactions. This reflects a unique feature of Internet development. Unlike other media of the 19th and 20th centuries, widespread Internet use preceded commercial investment. The early military and research use led to an architecture that poorly supported the certainty and security requirements of commercial transactions. Subsequent attempts to align this architecture with commercial transactional requirements were expensive and mostly unsuccessful. This multi-disciplinary thesis describes these commercial factors from historical, usage, technical, regulatory and commercial perspectives. It provides a new and balanced understanding in a subject area dominated by poor communication between separate perspectives

Rules for Growth: Promoting Innovation and Growth Through Legal Reform

The United States economy is struggling to recover from its worst economic downturn since the Great Depression. After several huge doses of conventional macroeconomic stimulus - deficit-spending and monetary stimulus - policymakers are understandably eager to find innovative no-cost ways of sustaining growth both in the short and long runs. In response to this challenge, the Kauffman Foundation convened a number of America’s leading legal scholars and social scientists during the summer of 2010 to present and discuss their ideas for changing legal rules and policies to promote innovation and accelerate U.S. economic growth. This meeting led to the publication of Rules for Growth: Promoting Innovation and Growth Through Legal Reform, a comprehensive and groundbreaking volume of essays prescribing a new set of growth-promoting policies for policymakers, legal scholars, economists, and business men and women. Some of the top Rules include: • Reforming U.S. immigration laws so that more high-skilled immigrants can launch businesses in the United States. • Improving university technology licensing practices so university-generated innovation is more quickly and efficiently commercialized. • Moving away from taxes on income that penalize risk-taking, innovation, and employment while shifting toward a more consumption-based tax system that encourages saving that funds investment. In addition, the research tax credit should be redesigned and made permanent. • Overhauling local zoning rules to facilitate the formation of innovative companies. • Urging judges to take a more expansive view of flexible business contracts that are increasingly used by innovative firms. • Urging antitrust enforcers and courts to define markets more in global terms to reflect contemporary realities, resist antitrust enforcement from countries with less sound antitrust regimes, and prohibit industry trade protection and subsidies. • Reforming the intellectual property system to allow for a post-grant opposition process and address the large patent application backlog by allowing applicants to pay for more rapid patent reviews. • Authorizing corporate entities to form digitally and use software as a means for setting out agreements and bylaws governing corporate activities. The collective essays in the book propose a new way of thinking about the legal system that should be of interest to policymakers and academic scholars alike. Moreover, the ideas presented here, if embodied in law, would augment a sustained increase in U.S. economic growth, improving living standards for U.S. residents and for many in the rest of the world

Proceedings der 11. Internationalen Tagung Wirtschaftsinformatik (WI2013) - Band 1

The two volumes represent the proceedings of the 11th International Conference on Wirtschaftsinformatik WI2013 (Business Information Systems). They include 118 papers from ten research tracks, a general track and the Student Consortium. The selection of all submissions was subject to a double blind procedure with three reviews for each paper and an overall acceptance rate of 25 percent. The WI2013 was organized at the University of Leipzig between February 27th and March 1st, 2013 and followed the main themes Innovation, Integration and Individualization.:Track 1: Individualization and Consumerization Track 2: Integrated Systems in Manufacturing Industries Track 3: Integrated Systems in Service Industries Track 4: Innovations and Business Models Track 5: Information and Knowledge ManagementDie zweibändigen Tagungsbände zur 11. Internationalen Tagung Wirtschaftsinformatik (WI2013) enthalten 118 Forschungsbeiträge aus zehn thematischen Tracks der Wirtschaftsinformatik, einem General Track sowie einem Student Consortium. Die Selektion der Artikel erfolgte nach einem Double-Blind-Verfahren mit jeweils drei Gutachten und führte zu einer Annahmequote von 25%. Die WI2013 hat vom 27.02. - 01.03.2013 unter den Leitthemen Innovation, Integration und Individualisierung an der Universität Leipzig stattgefunden.:Track 1: Individualization and Consumerization Track 2: Integrated Systems in Manufacturing Industries Track 3: Integrated Systems in Service Industries Track 4: Innovations and Business Models Track 5: Information and Knowledge Managemen