in Seattle in August 2000. We discuss the strong connections between auction theory and 'standard' economic theory, and … argue that auction-theoretic tools and intuitions can provide useful argument and insights in a broad range of mainstream …

The most important issues in auction design are the traditional concerns of competition policy-preventing collusive … discuss radiospectrum and football TV-rights auctions, electricity markets, and takeover battles), and the Anglo-Dutch auction … of the context; the circumstances of the recent UK mobile-phone license auction made an ascending format ideal. We also …

as equilibrium phenomena of the ascending auction. In a series of experiments, we compare its performance to that of the … discriminatory auction. Strategic demand reduction is quite prevalent in the ascending auction even when entry by the newcomer … imposes a (large) negative externality on incumbents. As a result, the ascending auction performs worse than the …

outcomes with the predictions of a simple auction model that emphasises future market structure as a main determinant of … (who are affected by the ensuing market structure) do not participate at the auction stage, good designs must alleviate the …

Bidders' asymmetries are widespread in auction markets. Yet, their impact on behaviour and, ultimately, revenue and … profits is still not well understood. In this Paper, I define a natural benchmark auction environment to compare any private … value auction with asymmetrically distributed valuations. I show that the expected revenue from the benchmark auction always …