condition for total monotonicity. The REE is an efficient SCF so it is attainable by an auction if and only if it satisfies …

aggregate dispersed information. Another reason behind the frequent utilization of open auction formats may be that they … and in the potential activation of behavioral biases: (i) the ascending Vickrey auction, a closed format; and two open … formats, (ii) the Japanese-English auction and (iii) the Oral Outcry auction. Even though bidders react to information …

takeover bidding, charity auctions, procurement and art auctions. We show that auction revenue can be decomposed into the … standard revenue from the respective auction without signaling concern, and a signaling component. The latter is the bidders … revenue decomposition restores revenue equivalence between different auction designs, provided that the same information about …

novel call auction model with insider information. Our model predicts that more insider information improves informational … of insider information the call auction performs worse than continuous double auction. Testing these hypotheses in the … lab we find that insider information increases informational efficiency of call auction prices but does not decrease the …