In the Debate Concerning Income Policies, the Relative Importance of Wage Rigidities Plays a Crucial Role. Implicitely Or Explicitely, Those Against Controls Emphasize the Cost of Their Implementation and Presuppose That There Will Be a Quick Reaction of Wages to Modifications in Labor Market...

A theoretical model of sequential first-price auctions where bidders are risk-averse and values are affiliated is developed. For constant risk-aversion utility functions and a particular specification of affiliation, closed-form solutions for the symmetric equilibrium of a sequence of k...