Julien, Benoit; Kennes, John; Ritter, Moritz - In: Economics Letters 125 (2014) 3, pp. 372-375
We study the assignment of agents to clubs in a frictional market environment. Club entry is endogenous and clubs compete by posting reserve prices in a competing auctions game prior to the agents’ decisions regarding which club to visit. The competing auctions equilibrium is constrained...