We consider a model where bidders in an auction own passive partial claims over their rivals’ auction profits. While …-value auction, we find that such cross ownership has an effect similar to reducing the number of bidders while holding constant the … distribution of the highest value in the auction. A similar decrease in competition occurs in independent private-value second …

We consider competitive bidding for a business license, via an open ascending-price auction, between two symmetric …

bidder in previous stages of the auction are observed, we demonstrate nonparametric identification, and then propose two … single-unit supply, we use our estimates to compare the revenues a seller could expect to earn were a Dutch auction employed …

We analyze the two-bidder discriminatory auction with downward sloping marginal valuations and a continuous, variable … bidders. These ordinary differential equations are extensions of the Milgrom-Weber equation for the first price unit auction … allocation is obtained. The equilibrium solution of the discriminatory auction is given by the solution of an initial value …

submitted bid. The reverse auction has immerged as the most commonly adopted dynamic auction for this setting. In a reverse … auction, suppliers first submit the qualities of their goods and then the suppliers participate in an auction with the same … message space as an open outcry English auction (descending because this is a procurement auction.) However, the auction is …

payments that are contingent on the realized value of the asset being sold. Standard auction mechanisms (such as first … first ask whether revenue equivalence holds, i.e. whether expected revenues depend upon the auction format. We show that … bidders offer standard debt securities, a second-price auction is superior. On the other hand, if bidders compete on the …