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. …

format of the auction matters. If bidders have constant marginal utilities for objects up to some limit, then uniform price … private and common valuations as special cases. We show that the key determinant of bidders' surplus (and implicitly auction … uniform price auctions are asymptotically efficient, while discriminatory auctions are asymptotically {\sl in …

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 …

The belief that equality of demand and supply determines price and clears the market is universal. Shockingly, this … indirect trade, money also must be used. Micro says that price is equal to marginal cost, rejecting trade theory’s claim that … trade is gainful. To remove these and other contradictions, price theory must be repaired. Money’s role in market clearing …

prices. But all of these activities raise the expected price in an important set of cases when common-value assets are sold …

they earn from quality- assuring price premia, and it relies on consumers knowing the cost functions of firms. In the …

markets. Using daily price series for the most important agricultural crop in Peru (potato), in 10 cities from 1995 to 2001 … show that there is short term disequilibria that affect the efficiency with which price information is transmitted across …

Vector autoregressions are used to model price transmission through the coffee processing chain, from producers to the … world market and from the world market to consumers. A comparison is made of price dynamics against a backdrop of two very … have become quite concentrated. Interestingly, the analysis shows that liberalisation has not improved price transmission …