statistically significant impact on the Treasury futures market. The occurrence of an auction, which increases supply in the …

research has found that auctions have an influence on the market yield days before they take place, and underpricing is usually … deeper and more accurately these two findings by taking Italy as a case study. Our results question the so-called auction … cycle and do not signal underpricing when a perfect matching between the auctioned bond and the market quote used is ensured. …

I develop a dynamic search model of the housing market in which prices, determined by auction, exhibit greater … buyer with the highest value. In hot markets, the highest values fluctuate more than the average values, making the auction …

volatility arises in the auction model because of the competition between buyers with heterogeneous values. With heterogeneous … average of buyers' house values determines the house price. In the auction model the buyer is chosen by the maximum bid among …

mechanism would be an improvement over the existing opening auction rules at stock exchanges. …