examine the effect of increased competition on auction performance: We find that increased competition reduced bidder surplus … aggressive bidding. Counterfactuals establish that as competition increases, concerns regarding auction format play a smaller …

examine the effect of increased competition on auction performance: We find that increased competition reduced bidder surplus … aggressive bidding. Counterfactuals establish that as competition increases, concerns regarding auction format play a smaller …

measuring the impact of two key variables on this trade-off: capacity restraint and discount on the auction clearing price … consequently, the most predictable auction outcome. There are indications that a discount of 8% may suffice to incentivize …

auction data can be learned without restrictions beyond those derived from the relevant economic model. This enables us to … take a nonparametric perspective in discussing how the structure of auction models can be combined with observables to … uncover (or test hypotheses about) primitives of interest in auction markets. We focus on first-price sealed-bid and ascending …