auctions during the period 1992-99. Average underpricing amounts to .041% of face value. Theory suggests that underpricing may … behind bidder behavior and underpricing is the volatility of bond returns. Since there is no evidence that bidders are risk …

auction. This effect appears not to be driven by i) differences in observable characteristics; ii) differences in real estate …

This paper gives an account of events, and explains some systematic reasons of the UMTS auction flop in Switzerland … to import some keyingredients of the auction design employed in Germany and Austria. This would have assured higher …

as auction mechanisms are being explored in more depth. The typical data utilized in such studies involves repeated … measures of auction outcomes, where the variable of interest involves order statistics from the sample of bids from many bids … auctions for a relatively homogeneous good, computer monitors sold on eBay. We discuss how outcomes of the auction mechanism …

A strategy to convert quotas to tariffs is to auction the quota rights and use the realized auction prices as guides to … tariff equivalents and auction prices for auctions with resale. Using panel data from New Zealand's quota license auctions … model's predictions. The predictions fail, suggesting either that auction prices may understate or that aftermarket prices …