auction outcomes. To establish causality, we exploit multiple discontinuities in the relationship between reserve prices and … 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 …

statistically significant impact on the Treasury futures market. The occurrence of an auction, which increases supply in the …

through an open auction. Works below this threshold can be more easily awarded through a restricted auction, where the buyer …