Public agencies rely on two key modes to procure goods and services: auctions and direct negotiations. The relative … passenger railway services in Germany, where regional agencies can use auctions and negotiations to procure regional passenger … auctions. This analysis suggests accounting for the endogeneity of the choice of procurement mode by estimating the mode of …

-phone license auctions, from 20 Euros per capita in Switzerland to 650 Euros per capita in the UK, though the values of the licences … entrants. The sequencing of the auctions was also crucial. We discuss the auctions in the UK, Netherlands, Germany, Italy …

auctions was about equal in the 1990s, the ostensible advantages to the issuer using book-building were advertising …

buying one unit. The sellers simultaneously set reserve prices and use second price auctions as rationing device. An … demonstrate that not allowing sellers to use second price auctions may enhance total surplus. …

This paper revisits recent empirical research on buyer credulity in arts auctions and auctions for assets in general …

critical papers in the subject. The most important of these are reproduced in a companion book, The Economic Theory of Auctions … the basic analysis of optimal auctions, the revenue equivalence theorem, and marginal revenues. Subsequent sections … address risk-aversion, affiliation, asymmetries, entry, collusion, multi-unit auctions, double auctions, royalties, incentive …

auctions, much of it in response to empirical findings, and we review three key findings. First, the evidence suggests that art …