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 …

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 …

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 analyze a divisible good uniform-price auction that features two groups each with a finite number of identical …

- that an intransparent negotiation yields a higher buyer surplus than a transparent auction for a range of parameters. In …

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 …

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. …

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

-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 …