-cost firm under incomplete information: a separating auction implies adverse selection and relies substantially on commitment to … allocation and transfer rules. A pooling auction serves as a commitment device against ex-post opportunistic behavior and … alleviates adverse selection. It can earn the investor a higher expected payoff than a separating auction, even when consistency …

a simple design initially enhances competition in the auction. Moreover, the procurer cannot benefit from using a multi …-dimensional auction, as the optimal scoring rule depends only on the price. …

We study a symmetric private value auction with signaling, in which the auction outcome is used by an outside observer … exists in the second-price auction and the English auction. We establish there is no equivalence between these two auction … clock, affects signaling incentives differently in both auction formats, and thereby also the bidders’ incentives to overbid …

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 …

overbidding in auctions. As a workhorse we use the second-price all-pay and the first-price winner-pay auction. Both risk and …. Indeed, we find that spite is a more convincing explanation for bidding behavior for the second-price all-pay auction. Not …

. Employing an order-balanced design, we use first-price auctions (FPAs) to expose participants to an auction format in which …

. Employing an order-balanced design, we use first-price auctions (FPAs) to expose participants to an auction format in which …

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 …

, we show that substituting the auction contest success function for the lottery contest success function in a conflict may …