In most wholesale electricity markets generators must submit step-function offers of supply to a uniform price auction …

. In the preparation of the auction, two designs involving each a hybrid of an English and a sealed-bid auction were … also compare the results to those with a pure English auction. Both hybrids are similar in efficiency, revenue differences … disappear as bidders get experienced. Compared to the discriminatory format, the pure English auction gives new entrants better …

the spot market. -- capacity market ; procurement auction ; electricity market ; competitive equilibrium …

of a multi-object auction. After the auction either all bids or only the prices to be paid are revealed to all firms … bidders' costs generally depends on the type and fierceness of the market competition, the specific auction format, and the …

effort and private information. We compare two procurement mechanisms where potential sellers first bid in an auction for …-price auction. We characterize Bayesian Nash equilibria such that both mechanisms are payoff-equivalent and induce the same efforts … and innovations. In these equilibria, signaling in the entry auction does not occur since contestants play a simple …

This paper develops a theory of multiple unit auctions with short squeezes in the post- auction market. This is … especially relevant for financial and commodity markets where players may enter the auction with established forward positions …. We study how a potential short squeeze impacts on bidders' strategies and auction performance. Conversely, we also study …

We consider an auction setting in which potential buyers, even if they fail to obtain the good, care about the price … paid by the winner. We study the impact of these price-externalities on the first-price auction and the second …-price auction in a symmetric information framework. First, we consider situations in which bidders care about the price paid …