policies in an empirical model of U.S. Forest Service timber auctions. The model fits the data well both within the sample of …

The failure of many paintings to sell in art auctions indicates the presence of reserve prices set by sellers. This … paper examines the relationship between sale rates and price surprises over time in art auctions. Using data on contemporary …

the three primary methods, fixed price public offers, auctions, and book building, auctions are least popular with issuers …. Since auctions allow for price discovery while avoiding the potential conflict of interest between issuer and underwriter …: namely, that participating in auctions is substantially more difficult for investors compared to the other methods, and that …

Bidders' risk attitudes have key implications for choices of revenue-maximizing auction formats. In ascending auctions … transaction prices and participation decisions in ascending auctions with entry costs. Nonparametric tests are proposed for two … of risk attitudes in a more general model of ascending auctions with selective entry, where bidders receive entry …

potential bidders and the auctioneer. Absent corruption, theory suggests that two stage auctions would most likely maximize … selection on property unobservables into such auctions. However, if such auctions are more corruptible, that could involve …, sales prices are lower for two stage auctions, and there is strong evidence of positive selection. The price difference is …