Auctioning an asset with sealed bids has been shown to be economically optimal but requires trusting an auctioneer who analyzes the bids and determines the winner. Many privacy preserving computation protocols for auctions have been proposed, aiming at eliminating the need for a trusted third...

This paper analyzes a two-stage sealed-bid auction that is frequently employed in privatization, takeover, and merger and acquisition contests. This auction format yields the same expected revenue as the open ascending (English) auction, yet is less susceptible to preemptive bidding and collusion.

We examine learning behavior in auctions and Fair division games with independent private values under two different price rules, first and second price. Participants face these four games repeatedly and submit complete bid functions rather than single bids. This allows us to examine whether...