-bidders' auction is similar to the Hawk-Dove game, which motivates to study symmetric NEs: Properties and comparative statics are …

aggregate dispersed information. Another reason behind the frequent utilization of open auction formats may be that they … and in the potential activation of behavioral biases: (i) the ascending Vickrey auction, a closed format; and two open … formats, (ii) the Japanese-English auction and (iii) the Oral Outcry auction. Even though bidders react to information …

. The effects of an auction depend on what the bidders compete. With a bid auction, the bidders compete on how much money … they transfer to the government. This auction leads to the same outcome as the unregulated game (for a given market … structure), since this gives the maximum profit to transfer. An auction on the capacity of a facility leads to an even lower …

This paper characterizes the optimal first-price auction (FPA) and second-price auction (SPA) for selling rights …

common belief, the auction prices for gas storage are mostly affected by the volatility of current market prices rather than …-varying volatilities and correlations. Under an incomplete market setting, our model is able to approximate the realized auction prices …