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 …

, evidence on how incomplete information affects the size of measured treatment effects is broadly missing. We exploit a unique … set of natural experiments to assess the importance of incomplete information in shaping policy effects. We compare … differences in the treatment effects across cases with different information conditions on benefit levels. The differences can be …