vehicle characteristics to present RD estimates of reserve price effects on auction outcomes. Our first set of results show … that, in line with the robust predictions of auction theory, an increase in reserve price decreases the number of bidders … price than those of the average bidder, suggesting auction winners are not the marginal entrant. -- auctions ; regression …

In a number of observed procurements, the buyer has employed an auction format that allows for a split-award outcome … examine the price performance and efficiency properties of split-award auctions under asymmetric information. In equilibrium …, however, occur too often from an efficiency viewpoint. Equilibrium bids involve pooling at a common price for the split award …

We describe the economics literature on auction markets, with an emphasis on the connection between theory, empirical …

examine the effect of increased competition on auction performance: We find that increased competition reduced bidder surplus … aggressive bidding. Counterfactuals establish that as competition increases, concerns regarding auction format play a smaller …

In second price internet auctions with a fixed end time, such as those on eBay, many bidders snipe , i.e., they submit … their bids in the closing minutes or seconds of an auction. Late bids of this sort are much less frequent in auctions that … second price internet auctions, in which very late bids have a positive probability of not being successfully submitted, and …

examine the effect of increased competition on auction performance: We find that increased competition reduced bidder surplus … aggressive bidding. Counterfactuals establish that as competition increases, concerns regarding auction format play a smaller …

market interprets increased competition at auction as indicator of the future direction of property price movements in the …This paper empirically tests auction theory by examining how the stock market evaluates the outcome of open-bid English … surrounding actual auction events, and empirically isolate the influence of conflicting auction theory predictions using data from …

equilibrium price dispersion can arise in this model as firms employ a Bayesian Nash pricing strategy. We provide conditions to … identify the model using price and another supply side data (such as market share). Our identification strategy is constructive …

We extend Wilson (1979) share auction framework to model the uniform-price US Treasury auction as a two-stage multiple … quantity effect by which the primary dealer increases its quantity, and the price effect by which the primary dealer decreases … its bidding behavior in handling the risk of being short-squeezed or face the winner curse in the post-auction market …