-submodular in income and type. We then show that when bidders are risk averse (preferring), the equilibrium price sequences should … the Vickrey sequential auctions. In particular, the "declining price anomaly" is perfectly consistent with nonincreasing …

We consider an oligopolistic market where firms compete in price and quality and where consumers are heterogeneous in …-inefficiency of the price/quality offers. But, better price/quality combinations are signalled with lower prices in one type and with …

. Our results show that, depending on the design of the auction, its outcomes may vary strongly, and may approach the …