This paper studies equilibria of second price auctions in independent private value envi- ronments with different participation costs. Two types of equilibria are identified: monotonic equilibria in which a bidder with a lower participation cost results in a lower cutoff for sub- mitting a bid,...

This paper characterizes the equilibria of first price auctions with participation costs in the independent private values environment. Bidders use cutoff strategies to decide whether they will participate in the auction. It is shown that, when bidders are homogeneous, there always exists a...

This paper studies equilibria of second price auctions when values and participation costs are both privation information and are drawn from general distribution functions. We consider the existence and uniqueness of equilibrium. It is shown that there always exists an equilibrium for this...

We study equilibria in second price auctions when bidders are independently and privately informed about both their values and participation costs and their joint distributions across bidders are not necessarily identical. We show that there always exists an equilibrium in this general setting...

Pyrolysis is an alternative form of renewable energy production and a potential source of greenhouse gas emissions mitigation. This study examines how poplar-based biochar can be applied in Taiwan for electricity generation and for soil improvement and to what extent it brings economic and...

We model the civil dispute resolution process as a two-stage game with the parties bargaining to reach a settlement in the first stage and then playing a litigation expenditure game at trial in the second stage. We find that the English rule shifts the settlement away from the interim fair and...

This paper studies procurement contracts where a buyer can either divide full production among multiple suppliers or award the entire production to a single supplier. We examine the effect of using multiple suppliers on investment incentives. In a framework of generalized second-price auctions...