There is a great deal of late bidding on internet second price auctions. We show that this need not result from either … this opens a way for bidders to implicitly collude, and avoid bidding wars, in auctions such as those run by eBay, which … common value properties of the objects being sold, or irrational behavior: late bidding can occur at equilibrium even in …

This paper studies the bidding behavior of firms in U.S. Forest Service timber auctions in 1976--1990. When conducting … timber auctions, the Forest Service publicly announces its estimates of the tract characteristics before the auction, and … incorporates both differential information and the fact that bids placed in timber auctions are multidimensional. The theory …

research in the field. The chapter is organized by types of goods for sale and covers auctions of timber, construction and … services procurement, oil and gas leases, online auctions, internet advertising, electricity, financial securities, spectrum …

I show that frequent batch auctions for stocks have the potential to reduce the severity of stock price crashes when … second apart batch auctions results in nearly the same trades and prices. Increasing the time interval between auctions to … the literature, frequent batch auctions have not caught on. There is a need for carefully designed market experiments to …

Choice screen auctions have been recently deployed in 31 European countries, allowing consumers to choose their … show that a seemingly minor detail in the design of these auctions--whether they are conducted on a "per appearance" or a … expected overall market share. I also show that "per install" auctions distort the incentives of alternative search engines …

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 …

We analyze a new auction format in which bidders pay a fee each time they increase the auction price. Bidding fees are … the primary source of revenue for the seller, but produce the same expected revenue as standard auctions. Our model … aggressive bidding and higher expected revenue. By incorporating mild risk-loving preferences in the model, we explain nearly all …

Our results are robust to cap-and-trade policies that differ according to policy stringency, the availability of …This paper examines the implications of alternative allowance allocation designs under a federal cap-and-trade program … considerable auction revenue. GDP costs of cap and trade depend critically on how such revenues are used. When these revenues are …

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 …