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If bidders are uncertain whether the auctioneer sticks to the announced reserve, some bidders respond by not bidding, speculating that the auctioneer may revoke the reserve. However, the reserve inadvertently signals the auctioneer's type, which drives a unique separating and a multitude of...
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heterogeneity in the dispersion of private value components. I use the asymmetric ascending auction model of Hong and Shum (2003) to …
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employment office or head hunter. In a centralised descending-bid, multi-item procurement auction, workers submitwage-bids for …
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auction model in which a seller's choice of reserve price signals her private information about the object's quality. We show …. We estimate the reserve price signaling model using a novel dataset from a large online auto auction platform. We find …
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