behavior in an environment with repeated auctions, pivotal suppliers and inelastic demand. The price increase can be traced … back to an abuse of the auction’s pay-as-bid mechanism by the two largest firms. In contrast to theoretical findings, we … show that pay-as-bid auctions do not necessarily reduce incentives for strategic capacity withholding and collusive …

Public agencies mainly rely on two modes to procure goods and services: auctions and direct negotiations. We study a … 1994 policy change in Germany that introduced the possibility to procure rail services in auctions as well as in direct …, auctions improve service levels and reduce prices. As a result, surplus on auctioned lines increased by about 30 …

repo auctions. However, whenever interest rates are expected to decline, the minimum bid rate is viewed as too high and …, we perform a panel analysis of the bidder behavior in the repo auctions of the Bundesbank where no minimum bid rate was … expected rate cut. This suggests that abandoning the minimum bid rate might increase the efficiency of the ECB's money market …

market conditions, and provides a theoretical explanation of low price equilibria in simultaneous, ascending-bid auctions …

competitive market structure than other UMTS auctions in Europe. The present paper explains the design of that auction, and …

competitive market structure than other UMTS auctions in Europe. The present paper explains the design of that auction, and … was predominantly employed in Europe. -- auctions ; telecommunications ; industrial organization ; game theory …

We briefly survey several insights about value and revenue maximization in multi-object auctions and apply them to the …