option value. An auction induces the social optimum, while a fixed-prize tournament induces insufficient diversity. The …

We consider auction games where, prior to the auction, bidders spend resources to increase their valuations. The market …

We consider the problem faced by a procurement agency that runs a mechanism for constructing an assortment of … differentiated products with posted prices, from which heterogeneous consumers buy their most preferred alternative. Procurement … take this form. When choosing the assortment, the procurement agency must optimize the tradeoff between offering a richer …

and rule-based auction procurement procedures. We show that adopting a two stage approach in which bureaucrats first …