We consider auction games where, prior to the auction, bidders spend resources to increase to their valuations. The market game is solved by solving an equivalent auxiliary social choice problem, We show that standard auctions are fully efficient, whereas reserve price requirements entail a...

In recent years, a significant problem with the carbon credit market has been the higher than initially predicted price volatility. It is essential to study the market in a repeated-period dynamic setting to identify the factors enabling high fluctuations in prices. In this paper, we examine the...