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We describe the economics literature on auction markets, with an emphasis on the connection between theory, empirical practice, and public policy, and a discussion of outstanding issues. We describe some basic concepts, to highlight some strengths and weaknesses of the literature, and so...
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policy. We address four core subject areas: market power, collusion, mergers between competitors, and monopolization. In each …
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, collusion among bidders often limits competition in timber auctions, including in well-established market economies such as the …Romania was one of the first transition countries in Europe to introduce auctions for allocating standing timber …-timber auctions offer several potential advantages: greater revenue generation for the government, a higher probability that tracts …
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