In Buy-It-Now auctions, sellers can post a take-it-or-leave-it price offer prior to an auction. While the literature …

compared to an optimal common reserve price. Implications for auction design are considered. …We investigate equilibrium bidding in first-price auctions with asymmetric reserve prices. For example, the auctioneer … may set a low reserve price for one subset of bidders and a high reserve price for others. When used to pursue a …

This paper tests for the presence of adverse selection in thoroughbred yearling auction markets. Thoroughbred auctions … auction (breeders). If racers use private information, keeping those yearlings with a higher probability of on-track success …, they are likely to receive a lower price for similar yearlings as compared to breeders. Using data from Keeneland's 1994 …

auctions. In such equilibria auction revenue is an increasing convex function of seller reputation. Allowing unit …-bid, second-price, single-unit auctions for imperfect substitute goods to unit-demand buyers. Among other applications, these … settings can serve as an abstraction of large scale decentralized Internet auction marketplaces, such as eBay. I characterize …

heterogeneity in the dispersion of private value components. I use the asymmetric ascending auction model of Hong and Shum (2003) to …

"intuitive criterion", one obtains a unique equilibrium reserve price equal to the seller's own valuation. Paradoxically, even if …

Pigouvian price. Controlling for the number of firms and the firms' maximal emissions, we find that, in line with the …