We study the relative performance of the first‐price sealed‐bid auction and the second-price sealed‐bid auction in a … reveals the winner’s payment to an outside observer. We find that the first‐price sealed‐bid auction in which the winner …

fluctuations in prices. In this paper, we examine the dynamic auction design and propose a method to curb price volatility through …

reserve price that would set a minimum price in allowance auctions. Opponents of an auction reserve price in the EU ETS have … expressed concern that a minimum auction price would interfere with economic operations in the market or would be tantamount to … and legal arguments for and against an auction reserve price. Our economic analysis concludes that an auction reserve …

information’ assumption. The ad value is characterized by a tractable analytical solution given observed auction parameters. Using … Yahoo! search auction data, we estimate value distributions and study the bidding behavior across product categories. We …

auction process. We also show how the benefits associated with the head-start given to districts with more Church land … initially, and thus greater land redistribution by auction during the Revolution, dissipated over the course of the nineteenth …

This paper proposes a framework for demand estimation with data on bids, bidders' identities, and auction covariates … dynamic auction model with IPV and private bidding costs it follows that if participation is optimal the bidder searches with … a reservation bid for low-price auctions. Extending results from the empirical auction literature and employing a …

We analyze strategic leaks due to spying out a rival’s bid in a first-price auction. Such leaks induce sequential …