Empirical study of treasury auction formats

Yanping Bai; Yu Zhang

doi:10.1007/978-3-642-23020-2_19

Empirical study of treasury auction formats

Yanping Bai^*, Yu Zhang

^*Corresponding author for this work

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

Abstract

The revenue between Dutch auction, American auction and hybrid auction can not be compared by auction theory. The paper establishes a statistical empirical model and uses the data of China's treasury auction market to examine the revenue between Dutch auction, American auction and hybrid auction. The paper has three important conclusions and the hybrid auction can prevent the winner's course and collusion. It is the better treasury auction format for the seller.

Original language	English
Title of host publication	Advances in Applied Economics, Business and Development - International Symposium, ISAEBD 2011, Proceedings
Pages	127-132
Number of pages	6
Edition	PART 2
DOIs	https://doi.org/10.1007/978-3-642-23020-2_19
Publication status	Published - 2011
Externally published	Yes
Event	2011 International Symposium on Applied Economics, Business and Development, ISAEBD 2011 - Dalian, China Duration: 6 Aug 2011 → 7 Aug 2011

Publication series

Name	Communications in Computer and Information Science
Number	PART 2
Volume	209 CCIS
ISSN (Print)	1865-0929

Conference

Conference	2011 International Symposium on Applied Economics, Business and Development, ISAEBD 2011
Country/Territory	China
City	Dalian
Period	6/08/11 → 7/08/11

Keywords

American auction
Dutch auction
Hybrid auction
Statistic analysis
Treasury auction format

Access to Document

10.1007/978-3-642-23020-2_19

Cite this

Bai, Y., & Zhang, Y. (2011). Empirical study of treasury auction formats. In Advances in Applied Economics, Business and Development - International Symposium, ISAEBD 2011, Proceedings (PART 2 ed., pp. 127-132). (Communications in Computer and Information Science; Vol. 209 CCIS, No. PART 2). https://doi.org/10.1007/978-3-642-23020-2_19

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abstract = "The revenue between Dutch auction, American auction and hybrid auction can not be compared by auction theory. The paper establishes a statistical empirical model and uses the data of China's treasury auction market to examine the revenue between Dutch auction, American auction and hybrid auction. The paper has three important conclusions and the hybrid auction can prevent the winner's course and collusion. It is the better treasury auction format for the seller.",

keywords = "American auction, Dutch auction, Hybrid auction, Statistic analysis, Treasury auction format",

author = "Yanping Bai and Yu Zhang",

year = "2011",

doi = "10.1007/978-3-642-23020-2_19",

language = "English",

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booktitle = "Advances in Applied Economics, Business and Development - International Symposium, ISAEBD 2011, Proceedings",

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note = "2011 International Symposium on Applied Economics, Business and Development, ISAEBD 2011 ; Conference date: 06-08-2011 Through 07-08-2011",

}

Bai, Y & Zhang, Y 2011, Empirical study of treasury auction formats. in Advances in Applied Economics, Business and Development - International Symposium, ISAEBD 2011, Proceedings. PART 2 edn, Communications in Computer and Information Science, no. PART 2, vol. 209 CCIS, pp. 127-132, 2011 International Symposium on Applied Economics, Business and Development, ISAEBD 2011, Dalian, China, 6/08/11. https://doi.org/10.1007/978-3-642-23020-2_19

Empirical study of treasury auction formats. / Bai, Yanping; Zhang, Yu.
Advances in Applied Economics, Business and Development - International Symposium, ISAEBD 2011, Proceedings. PART 2. ed. 2011. p. 127-132 (Communications in Computer and Information Science; Vol. 209 CCIS, No. PART 2).

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

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KW - Treasury auction format

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Empirical study of treasury auction formats

Abstract

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Conference

Keywords

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