In procurement auctions, bidders are usually better informed about technical, financial, or legal aspects of the goods … question of the value added of letting the sourcing process consist of both an auction and a negotiation stage, theoretically … auction is beneficial to the buyer compared to no communication and ex-ante communication. In a setting where the buyer and …

We investigate experimentally whether emotions affect bidding behavior in a firstprice auction. To induce emotions, we … confront subjects after a first auction series with apositive or negative random economic shock. We then explore the relation … between emotions andbidding behavior in a second auction series. Our main results are: (i) the economic shock has asubstantial …

Unique-lowest sealed-bid auctions are auctions in which participation is endogenous and the winning bid is the lowest … bid among all unique bids. Such auctions admit very many Nash equilibria (NEs) in pure and mixed strategies. The two …-bidders' auction is similar to the Hawk-Dove game, which motivates to study symmetric NEs: Properties and comparative statics are …

divestitures. The Dutch government has doneexactly that, organizing auctions to redistribute tenancy rights for highway …

We study auctions in which the number of potential bidders is large, such as in Internet auctions. With numerous … bidders, the expected revenue and the optimal bid function in a first price auction result in complicated expressions, except … Internet auctions. …

firms' risk attitudes and the fact that future market prof-its are uncertain so that winning an auction is like winning a … lottery ticket.li one license is auctioned, auctions select the firm that is least risk averse.This is what we call the risk … there is a differenti-ated Eertrand oligopoly in the marketplace. In case of Cournot competition,a strategic effect works …

If a government auctions the right to market a good, continuity is likely to be of significant importance. In a … laboratory experiment, we compare the effects of bidders' limited liability in the first-price sealed-bid auction and the English … auction in a common value setting. Our data strongly reject our theoretical prediction that the English auction leads to less …