It is widely accepted that the information technology (IT) industry has high clockspeed. This very phenomenon has led to IT OEMs finding themselves selling new generation models only to be left holding returned merchandise from older generations. Similarly, customers who migrate to newer...

Bidders in procurement auctions often face avoidable fixed costs. This can make bidding decisions complex and risky, and market outcomes volatile. If bidders deviate from risk neutral best responses, either due to faulty optimization or risk attitudes, then equilibrium predictions can perform...