From bidding data, we estimate the underlying value distribution for Forest Service timber. We find that bidder values decrease $2/mbf (thousand board feet) with each mile from the tract and that small firms (fewer than 500 employees) have values that are $72/mbf lower than large firms. The...

Background: Chronic obstructive pulmonary disease (COPD) is a progressive inflammatory lung disease associated with increasing morbidity and mortality and an economic burden that stretches beyond the patient to healthcare systems. Avoiding exacerbations and subsequent hospitalizations is an...

Bidding theory predicts low er selling winning bids (higher buying winning bids) as numbers of bidders incre ase. Alternative versions predict that winning bids fall (rise) with the second order statistic, the maximum order statistic, or 1/N. The authors test these pre dictions using data on...