Although previous empirical studies have found relationships between patent characteristics and value, none have determined how specific attributes relate to auction value or even the probability of a successful auction sale. Using a Heckman two-step model, we regress 13 independent variables...

Colorado College uses an economic system to allocate scarce course seats: annually during a sealed-bid auction, each student receives nontransferrable, nonbankable currency with which to bid on courses. We estimate an instrumental variables probit model to determine whether particular student...