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ensuing auction, leading to loss of efficiency and eliminating the revenue dominance typically observed in firstprice auctions. …
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.S. Forest Service timber auctions, we document a set of systematic effects of auction format: sealed bid auctions attract more … for these qualitative effects of auction format. We then calibrate the model using parameters estimated from the data and … bidder competitiveness, which has important consequences for auction choice. …
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This paper provides evidence of bounded rationality by large dealers in U.S. Treasury auctions. I argue that these dealers use a heuristic of yield-space bidding which leads to biases manifested in three ways: they submit dominated bids, i.e., those that could be improved without raising the...
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We study the timing of leniency applications using a novel application of multi-spell discrete-time survival analysis for a sample of cartels prosecuted by the European Commission between 1996 and 2014. The start of a Commission investigation does not affect the rate by which conspirators apply...
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between 2000 and 2013, in terms of merger control and anti-cartel enforcement. Tobacco, Paper and paper products … the Commission. There has been a greater incidence of anti-cartel action in Chemicals, Tobacco, Beverages, Electric …
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