In an auction with a buy price, a seller offers bidders the opportunity to forgo competing in an auction by transacting … auction's reserve price and buy price, she does best to keep her aspirations sufficiently low by designing a no …-reserve auction with a buy price low enough that some bidder types would exercise it with positive probability in equilibrium. The …

This paper reports the results of an experimental wine auction. Participants of the experiment were randomly assigned …

which causes other bidders to drop out of the auction earlier than they would otherwise. The information contained in a jump … bid must be sufficient to induce a discrete change in the bidding behaviour of the other bidders. In an auction for a …. In an auction for multiple items, the jump bid signals a high valuation by the jump bidder. …

changes in the UK auction market for art that is subject to the Droit de Suite (DDS), relative to changes for art not subject … to the DDS, and also relative to changes in the auction markets for art in countries where there has been no change in … impact on the UK art auction market. …

. For any number of objects and bidders, both the pure bundling auction and separate, efficient auctions for the single … objects are revenue-inferior to an auction that involves mixed bundling. …

-price auction since holding an auction may leave higher rents to firms when the innovation technology is subject to large random …

which the monopoly outcome with equal sharing is sustainable in the uniform price auction, but not in the corresponding … discriminatory auction. Moreover, capacity withholding may be necessary to sustain this outcome. We extend these results to the case …

are when using them. The objective of this article is to familiarize the reader with the auction theory, either to improve … the auction design, if he is the auctioneer, or to orient the bidding strategy, if he is the bidder. First, we present the …