A seaport is awarded in a Demsetz auction to the operator bidding the lowest cargo-handling fee. The competitive … auction is irrelevant if the port operator integrates into shipping and sabotages competitors, thus providing a motive for a … shippers are possible. For this result to attain, the auction must be combined with a sufficiently high floor on the cargo …

with a (sufficiently high) floor on the cargo-handling fee that operators can bid in the auction. In the absence of such a … floor, however, a Demsetz auction is worse than no regulation at all of the bottleneck monopoly. Our results apply beyond …

Colorado College uses an economic system to allocate scarce course seats: annually during a sealed-bid auction, each …