Some newly issued T-bills are auctioned by discriminatory pricing in Dutch auctions, whereas other newly issued T-bills

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Some newly issued T-bills are auctioned by discriminatory pricing in Dutch auctions, whereas other newly issued T-bills are auctioned by uniform prices second-highest sealed-bid ascending-price auctions. Which auction design is more like private placement of corporate newly issued bonds and IPO stock? Which auction design is more likely to increase seller revenue?

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Managerial economics applications strategy and tactics

ISBN: 978-1439079232

12th Edition

Authors: James r. mcguigan, R. Charles Moyer, frederick h. deb harris

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