bidders account for this trade-off, using a sequential procurement auction with private cost information and varying …

takeovers. After the auction, the winning bidder decides whether to make follow-up investments in the acquired asset and makes … the equity payment out of the revenue from it according to the auction outcome. Before the auction, the seller holds …

In light of recent developments in auction theory, this Article re-examines Delaware corporate law governing directors … directors resolves to sell a corporation, it must obtain the highest price reasonably available. Auction theory posits that, in … the rules of the auction. Delaware law, however, does not fully endorse directors' ability to make such precommitments …

This paper examines an auction platform in which the monopoly platform maximizes profits by adjusting participation … fees and choosing an auction format. The seller has private information on the quality of the good, and each participating … buyer receives a private signal about his valuation of the good. The choice of auction format determines the allocation of …

An auctioneer faces a pool of potential bidders that changes over time. She can delay the auction at a cost, in the … auction excessively) if that elasticity is increasing, and under-invests if it is decreasing. We also show that dynamically …

Governments and corporations frequently auction assets with embedded real options using both cash and contingent bids …, without sellers' commitment to the security design, as seen in informal auctions such as corporate acquisitions, all auction …

though the fees themselves implicitly reduce competition at the auction stage. We also highlight that admission fees and … and Klemperer (1996) that market thickness often takes precedence over market power in auction design …

sequential l-th price auction with the same ordering achieves optimal revenue subject to (IC) and (IR). We also discuss bid …

shill bidding in strategy-proof auctions more generally. As a remedy, this paper considers an ascending auction with a … random ending time --- a so-called candle auction. Time is discrete and in every round, the bidders bid sequentially and in a … fixed order. The bidder with the highest bid at the end of the decisive round wins the auction and pays her bid. We show …

signal’s informativeness, the all-pay auction raises lower revenue than the second-price auction, whereas the revenue ranking … between the all-pay and the first-price auction is ambiguous …