№ 1/2017

№ 1/2017

Nauk. pr. NDFI 2017 (1): 97–106https://doi.org/10.33763/npndfi2017.01.097

MARKET OF FINANCIAL SERVICES

DYBA Oleksandr ¹, KIKOT Oleksandr

¹SHEE “Kyiv National Economic University named after Vadym Hetman”
OrcID ID : https://orcid.org/0000-0002-3615-1180

Methodological issues of experimental evaluation of securities auctions

The article is focused on the methodology of experimental evaluation of securities auctions, its justification and formalization. The existence of a great number of different auctions that can be used to sell securities and almost unlimited possibilities of creating new auction formats explain the need for effective methods of auction evaluation and comparison. The main approaches towards auction evaluation include theoretical, econometric and experimental ones. A framework for the evaluation of economic systems is developed, which will further be applied to study peculiarities, advantages and disadvantages of the experimental approach and compare it with theoretical and econometric approaches. The article examines the characteristics and classification of empirical information about securities auctions based on the nature and sources of empirical data. By those criteria, four types of data are singled out: field happenstance, field experimental, laboratory experimental and laboratory happenstance data. The last three types of data can be collected only experimentally. Further in the article, a general procedure of the experimental evaluation of securities auctions is suggested, and peculiarities of going through each evaluation stage are examined.

Keywords:auction, securities, evaluation, evaluation environment, empirical data, methodology of experimental evaluation.

JEL: С10, D44, G11.

DYBA O. . Methodological issues of experimental evaluation of securities auctions / O. . DYBA, O. Kikot // Наукові праці НДФІ. - 2017. - № 1. - C. 97-106.

Article original in Ukrainian (pp. 97 - 106)

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