leasehold rights be sold at public auction. There are two main types of auction: regular English auction and an unusual type … which we call a "two stage auction". The latter type of auction seems more subject to corruption, and to side deals between … positive selection as city officials divert hotter properties to a more corruptible auction form. The paper finds that, overall …

Winners of the Brazilian privatization auctions (BPAs) earned, on average, a 0.7 percent abnormal return on the days of … prevailing wisdom that auctions are the best method for governments seeking to maximize privatization revenues. Brazilian buyers …