The role of institutions in the process of economic growth and development has generated considerable interest among researchers over the past few decades. In particular, incorporating institutional variables into the established growth theories and empirics involves understanding the impact and...

We characterize the optimal bidding strategies of local and global bidders for two heterogenous licenses in a multi-unit simultaneous ascending auction. The global bidder wants to win both licenses to enjoy synergies; therefore, she bids more than her stand-alone valuation of a license. This...