We present an alternative abstraction of an English (oral ascending) auction to the standard, in Milgrom and Weber (1982), that accords more closely with practices in some auction markets. In particular, the assumptions that exits are irrevocable and necessarily public are dropped, making...

We describe a Vickrey-Clarke-Groves auction of supply and demand bidding in the face of market power and nonconcave benefits in which bidders are motivated to bid truthfully, and evaluate its use for power and gas pipeline auctions. The auction efficiently allocates resources if firms maximize...

This paper investigates the importance of bidder types and product types in online charity auctions. Through a large-scale controlled field experiment, the authors identify charitable and non-charitable bidders, and investigate bidding activities in charity and non-charity auctions. Results show...

The Evolving Context for Unit Commitment Decisions -- Why this Book? New Capabilities and New Needs for Unit Commitment Modeling -- Regulatory Evolution, Market Design and Unit Commitment -- Development of an Electric Energy Market Simulator -- New Features in Unit Commitment Models -- Auctions...

With increasing numbers of consumers in auction marketplaces, we highlight some recent approaches that bring additional economic, social, and psychological factors to bear on existing economic theory to better understand and explain consumer behavior in auctions. We also highlight specific...

Research on bidding in auctions has generally relied on the assumption of self-interested bidders. This work relaxes that assumption in the context of charity auctions. As understanding charitable motives has important implications for auction design and charities’ fundraising strategies, this...