arrangements, corruption affects both bidding behavior, efficiency and the seller's expected revenue in a first-price auction. …We investigate the outcome of an auction where the auctioneer approaches one of the two existing bidders and offers an …

asset that is too large or too risky for a single individual or financial institution so that an auction method is not … and a SS is provided. The difference between an auction scheme and a subscription scheme is discussed. …

private and common valuations as special cases. We show that the key determinant of bidders' surplus (and implicitly auction … format of the auction matters. If bidders have constant marginal utilities for objects up to some limit, then uniform price … expense of efficiency. …

Consider an auction in which $k$ identical objects are sold to $n>k$ bidders who each have a value for one object which … not prohibitively high, then the equilibrium price in a uniform price auction will not aggregate private information, in … mechanism for which there exist equilibria and for which (weak) efficiency is achieved as the economy grows in the face of …

This study reports experimental market power and efficiency outcomes for a computational wholesale electricity market … determined by means of a clearinghouse double auction with discriminatory mid-point pricing. Buyers and sellers use Roth …-Erev individual reinforcement learning to determine their price and quantity offers in each auction round. It is shown that market …