then show that the English auction always implements the second best allocation when there are only two bidders, but not …

The objective of this paper is to estimate technical efficiency in retailing; and the influence of inventory investment …, wage levels, and firm age on this efficiency. We use the output supermarket chains¿ sales volume, calculated isolating the … retailer price effect on its sales revenue. This output allows us to estimate a strictly technical concept of efficiency. The …

auction in which some bidders are better informed than others. We show that bidders with worse information can do surprisingly …

encompasses as polar cases the (fair) lottery and the (deterministic) all-pay auction. Equilibria have a close relationship to … those of the (deterministic) all-pay auction and important properties of the latter hold for the serial contest, too. …

outsiders. Finally, we analyze the implications of information revelation on the efficiency of the auction and on the auctioneer …This paper studies an auction model in which one of the bidders, the insider, has better information about a common … also show that the insider can protect the value of her private information by hiding her presence in the auction to the …

existence of an equilibrium with properties similar to the one of the (deterministic) all-pay auction. Since these conditions …

We present laboratory experiments of five different multi-unit auction mechanisms. Two units of a homogeneous object …, the Vickrey and the discriminatory sealed-bid auction. Furthermore, we compare the five mechanisms with respect to the …

decision is observed by the otherbidders before they bid. Our results show that the sealed bid (second price)auction induces … more information acquisition about a common component ofthe value than the open (English) auction, but less about the … of the open auction. …