interests that played a deci- sive role in the establishment of the auction mechanism. The article provides an analysis of the … formal and informal rules of the auction trade for real estate and argues that 19 th century real estate auctions did not … than auction theory assumes. …

. 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 …

article thus explores the inter-relationship between museum/exhibition sites and auction houses in the selling of looted …

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 …