preferences of 900+ real-world public procurement officials in Finland and Germany. This is an important pursuit as they report … importance of multiple features of procurement outcomes. Officials prioritize avoiding unexpectedly high prices but not seeking …

We study the relative performance of the first‐price sealed‐bid auction and the second-price sealed‐bid auction in a … laboratory experiment where bidders can signal information through their bidding behaviour to an outside observer. We consider … reveals the winner’s payment to an outside observer. We find that the first‐price sealed‐bid auction in which the winner …

traditional procurement (TP) and public-private partnership (PPP). We show that a mixed regime, in which TP is used in one …

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 …

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

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 study the optimal entry fee in a symmetric private value first-price auction with signaling, in which the … participation decisions and the auction outcome are used by an outside observer to infer the bidders’ types. We show that this … auction has a unique fully separating equilibrium bidding function. When the bidders’ sensibility for the signaling concern is …

seller’s private signal. A public reserve price is announced before the auction starts, and a secret reserve price is …

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 …