technique that leads to a reduction in cost. Following the auction in the second stage of the game these firms compete against … technique is a private information to the concerned firm. In the model, the auctioneer is the government. Before the auction …, the government announces whether she will reveal the bids after the auction, which is her choice variable. This paper …

tax it would pay for acquiring monopoly rights on a particular venture, posted publicly on a government-auction website … pain of losing the auction to a competitor. With minimal government intervention, the “invisible hand” of economic theory …

such procurement is an English auction followed by an auctioneer's option to engage in ultimatum bargaining with the winner … equilibrium strategy of exiting the auction at their costs and then accepting strictly profitable offers. Buyers generally … with auction prices when they should be invariant. We explain this deviation by modeling buyers' subjective posteriors …

decrease as they participate in more auctions; (3) auction selection ability does not improve (and may get worse) with …