pre-auction for the right-of-first-refusal. This is true even when the ex ante stronger supplier wins this pre-auction for …

procurement auction. When the buyer has no such ability, their joint surplus can be increased by an agreement which grants to the … and a reserve price in the procurement auction based on that cost. …

optimal auction, the first price auction and the second price auction. …

of the object, and must decide how much information to reveal prior to the auction. We show that the auctioneer has …

participants in the auction. We find that both the optimal and the efficient level of information increase with the number of … participants in the auction, and both converge when the number of bidders goes to infinity. …

We consider a model of preference in an asymmetric procurement auction with two suppliers. The buyer can award the … first-price auction. For a family of power distributions on the costs, we examine the effects of preference on the expected … price paid by the buyer. If the buyer is not compensated for the preference, the expected price in the preference auction …

' complete bid functions in each round (auction) of the experiment. In the aggregate, behavior is consistent with the basic …