The Federal Deposit Insurance Corporation (FDIC) resolves insolvent banks using an auction process in which bidding is … mechanism could be improved. To do so, we propose a methodology for analyzing auction environments where bids are ranked … auctions, and FDIC data summarizing bids, we back out the underlying preferences of banks for failed institutions. With these …

Central Bank (ECB). Using auction data from both the Bundesbank and the ECB, we show that none of the theories can on its own …