auction with an additional buyer is conducted. The theoretical model predicts that with risk neutral agents all sales take … place in the auction rendering the negotiation prior to the auction obsolete. An experimental test of the model provides …

firms' risk attitudes and the fact that future market prof-its are uncertain so that winning an auction is like winning a …

In an auction with a buy price, the seller provides bidders with an option to end the auction early by accepting a … transaction at a posted price. This paper develops a model of an auction with a buy price in which bidders use the auction … to augment her auction with a buy price and demonstrates that the seller sets a higher reserve price when she can affect …

In eBay s Buy-it-Now auctions sellers can post prices at which buyers can purchase a good prior to an auction. We study … predictions of a model by combining the real auction environment (eBay auction platform and eBay traders) with the techniques of … lab experiments. We observe that the eBay auction format supports deviations from truthful bidding leading to auction …

English premium auction (EPA) for different risk attitudes of bidders. We explicitly derive the symmetric equilibrium for …

auction - in a setting that extends Maskin and Riley (1984, Econometrica 52: 1473-1518) in three aspects: (i) the seller can … be risk averse, (ii) the bidders can have heterogeneous risk preferences, and (iii) the auction can have a binding … verifiable by deduction prior to the auction - the premium also benefits the seller and therefore leads to a Pareto improvement …

auctions, auction theory predicts bid distributions in Bayesian Nash equilibrium does not convey any information about bidders … entry and the certainty equivalent - required for entry into the auction is strictly positive if and only if bidders are … risk attitudes in more general auction models, where in the entry stage bidders receive signals that are correlated with …

Bidders' risk attitudes have key implications for choices of revenue-maximizing auction formats. In ascending auctions … entry costs but contains exogenous variations of potential competition and auction characteristics. In the first scenario … equilibrium entry probabilities vary with observed auction characteristics and potential competition. We also show identification …