We compare, experimentally, the Vickrey auction and an ascending-price auction recently introduced by Ausubel (1997). We evaluate the relative performance of both auctions in terms of efficiency and revenue in multi-unit environments where valuations either have a common-value component or are...

This paper develops optimal pricing, lending, and renegotiation strategies for companies in relationships where one firm is highly dependent on the other. Long-term trade-creditor firm relationships induce dependent trade creditors to grant more concessions in debt renegotiations than...

We compare, experimentally, the Vickrey auction and an ascending-price auction recently introduced by Ausubel (1997). We evaluate the relative performance of both auctions in terms of efficiency and revenue in multi-unit environments where valuations either have a common-value component or are...