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Inspired by some spectrum auctions, we consider a stylized license auction with incumbents and one entrant. Whereas the …
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price difference between the procedures using data from Czech public procurement. The model predicts that auctions are more … high-cost firms are selected for the closed procedure. In accordance with the first prediction, we find that open auctions … closed procedures. Comparing all four awarding procedures, we find that open auctions are the most efficient procedure used …
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If a government auctions the right to market a good, continuity is likely to be of significant importance. In a …
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