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. …

An auction is externality-robust if unilateral deviations from equilibrium leave the other bidders' payoffs unaffected … externalities due to spiteful preferences, which have been used to explain overbidding in the second-price auction (SPA). Another … example are cross-shareholdings between companies that compete in an auction. We derive an auction that coincides with the SPA …

at a fixed price before an auction. In the "Buy-It-Now" format, the seller has the bargaining power and offers a price … prior to the auction; whereas in the "Sell-It-Now" format, it is the buyer. Both formats are extensively used in online and … auction. …

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 …

and financial markets are presented. -- reverse auction ; demand schedule competition ; market power ; adverse selection …

A model is presented of a uniform price auction where bidders compete in demand schedules; the model allows for common … help explain the response of central banks to the crisis, and suggest potential improvements in the auction formats of …

results for quantitative auction and mechanism design. …