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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 … expert opinion around auction events, actual auction event and outcome data, and stock market data. The empirical findings …
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Within this paper, we aim to investigate asymmetries among bidders in land auctions that may entail non-competitive prices. Using representative data for Eastern Germany including winning bids, bidder characteristics, and land amenities, we pursue a structural approach to derive distributions of...
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measuring the impact of two key variables on this trade-off: capacity restraint and discount on the auction clearing price … consequently, the most predictable auction outcome. There are indications that a discount of 8% may suffice to incentivize …
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