When bidders incur a cost to learn their valuations, bidder entry can impact auction performance. Two common selling … mechanisms in this environment are an English auction, and a sequential bidding process. Bulow and Klemperer (2009) show …, theoretically, that sellers should prefer the auction, because it generates higher expected revenues, while bidders should prefer …

by using daily pre-opening auction data for over 50 stocks listed in NSE (National Stock Exchange). The simulation of …

, versus the option of making the reserve public by using it as the minimum bid level. In a field experiment, we auction 50 … that secret reserve prices make us worse off as sellers, by reducing the probability of the auction resulting in a sale …, deterring serious bidders from entering the auction, and lowering the expected transaction price of the auction. We also present …

Hong Kong introduced the Closing Auction Session (CAS) to the HKEX securities market in 2016. Under the CAS, trading is …. Trading under the CAS is in the form of a single price auction, at which buyers and sellers submit orders so that the trading …. Regarding the impact of CAS on market liquidity, we find that the introduction of the close auction results in a slight decline …

role of timing within an ascending auction, and the possibilities for price forecasting -- and how economic and game … auction, in which a new entrant, SpectrumCo, faced all these problems yet managed to purchase nationwide coverage at a … discount of roughly a third relative to the prices paid by its incumbent competitors in the same auction, saving more than a …

In this paper we consider equilibrium behavior in a Dutch (descending price) auction where the bidders are uninformed … auction. We assume that the information acquisition activity is covert. We characterize the equilibrium behavior in a setting …, the Dutch auction produces more revenue than would a first price auction …

An Anglo-Dutch premium auction consists of an English auction followed by a Dutch auction, with a cash premium paid to …-Dutch premium auction is particularly well-suited to do both. Modeling equilibrium play theoretically, we predict a positive …-Dutch premium auction appears to have been an effective solution to a complex early market design problem …