.S. Forest Service timber auctions, we document a set of systematic effects of auction format: sealed bid auctions attract more … for these qualitative effects of auction format. We then calibrate the model using parameters estimated from the data and … bidder competitiveness, which has important consequences for auction choice. …

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

We extend Wilson (1979) share auction framework to model the uniform-price US Treasury auction as a two-stage multiple … quantity effect by which the primary dealer increases its quantity, and the price effect by which the primary dealer decreases … its bidding behavior in handling the risk of being short-squeezed or face the winner curse in the post-auction market …

We model the uniform-price US Treasury security auction as a static symmetric game of incomplete information in which … each payer is a primary dealer who submits a demand schedule given two independent sources of private information – his pre-auction … we show how his pre-auction short position impacts his bidding behavior – in particular: the dealer's demand for the …

Individuals who are unaware of the price do not derive more enjoyment from more expensive wine. In a sample of more … than 6,000 blind tastings, we find that the correlation between price and overall rating is small and negative, suggesting … effects, and are not driven by outliers: when omitting the top and bottom deciles of the price distribution, our qualitative …