implemented via a simple two-stage qualifying auction. In the first stage of the qualifying auction, non-binding bids are … submitted to determine who enters the second stage, which consists of a standard second-price auction augmented with a reserve …

Many bidders enter the Government of Canada securities auctions with short or long pre-auction inventory. We find that … bidding strategies and auction performance vary with pre-auction ownership structure. Short and long bidders bid higher … average prices and demand larger quantities than do bidders with neutral pre-auction inventory. The effects of pre-auction …

This paper considers the problem of identification and estimation in the first-price multi-unit auction. It is … welfare consequences of allowing combination bidding in the first price auction are ambiguous, and depend on the importance of … the multi-unit first price auction and derive partial identification results when they are not satisfied. We propose an …

, i.e., the first best, is not implementable. Our first main result is that the open ascending auction is not second best … main result is that the second best can be implemented with a two-round auction used in real-life privatizations. We also … show how this result generalizes using a survival auction with a novel tie-breaking rule. …

We compare two procurement mechanisms, bundling and unbundling, in a two-stage auction model with risk-averse suppliers …. They differ in whether two sequential tasks of investment and production are procured through a single auction or two … sequential auctions. Each auction adopts a first-price format. A winner is awarded a fixed-price contract. Each supplier …

. We construct two mechanisms that take into account both criteria: a first-score auction in which bidders bid both in … terms of price and retained excess labor, and a first-price auction in which bidders bid only over price but they also … redundancies. In the first auction this is done by setting a scoring rule that does not correspond to their genuine preferences …

the privatization. The two key mechanisms explaining the results are: (i) a government owner keeping control takes into …