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lowers mean borrowing costs by 9-10%. We estimate a structural auction model to measure markups and to illustrate and …
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This paper analyzes a multi-auction setting in which informed strategic agents are endowed with heterogeneous noisy …
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Where markets are insufficiently competitive, governments can intervene by auctioning licenses to operate or by forcing divestitures. The Dutch government has done exactly that, organizing auctions to redistribute tenancy rights for high-way gasoline stations and forcing the divestiture of...
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auction model to measure markups, and to illustrate and quantify how the interaction between tax policy and bidder strategic …
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which each buyer can bid in a single auction only. They do not find a unique equilibrium outcome (due to mixed strategies …
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