We introduce a simple and robust approach to answering two key questions in empirical auction analysis: discriminating … between models of entry and quantifying the revenue gains from improving auction design. The approach builds on Bulow and … and auction formats without requiring instruments or estimation of a complex structural model. We demonstrate the approach …

We describe factors that make bidding in large spectrum auctions complex -- including exposure and budget problems, the … role of timing within an ascending auction, and the possibilities for price forecasting -- and how economic and game … auction, in which a new entrant, SpectrumCo, faced all these problems yet managed to purchase nationwide coverage at a …

-linear demand curves with quantities as flows (shares/second). Batch auctions clear all asset markets jointly in discrete time …

We study security-bid auctions in which bidders compete by bidding with securities whose payments are contingent on the … realized value of the asset being sold. Such auctions are commonly used, both formally and informally. In formal auctions, the …We characterize equilibrium payoffs and bidding strategies for formal and informal auctions. For formal auctions, we …

We develop tests for common values at first-price sealed-bid auctions. Our tests are nonparametric, require observation … only of the bids submitted at each auction, and are based on the fact that the winner's curse' arises only in common values … auctions. The tests build on recently developed methods for using observed bids to estimate each bidder's conditional …

from auction experiments, we estimate four alternative structural models of bidding in first-price sealed-bid auctions: 1 …Recently, economists have developed methods for structural estimation of auction models. Many researchers object to … explore whether structural auction models can generate reasonable estimates of bidders' private information. Using bid data …

, independent across agents. Bids cannot be retracted, as is frequently the case in auctions. Our main methodological contribution … the type of auction considered. The equilibria of a static auction with this distribution of values is used to … characterize the equilibria of the dynamic auction, making this general class very tractable. As a result of the option of future …

Economists have developed empirically tractable demand systems for fixed price markets. In contrast, empirical auction … techniques treat each auction in isolation, ignoring market interactions. We provide a framework for estimating demand in a large … auction market with a dynamic population of buyers with unit demand and heterogeneous preferences over a finite set of …

. Much less work has considered the importance of the auction process. For example, in many auctions, auctioneers are present …A large body of research has explored the importance of auction design and information structure for auction outcomes … and can impact the process of the auction by varying starting prices, level of price adjustments, the speed of the auction …

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 … entry costs but contains exogenous variations of potential competition and auction characteristics. In the first scenario …