Li, Xinyu; Haan, Marco; Onderstal, Sander; Veldman, Jasper - 2023
farm auctions and evaluates the impact of price guarantees and subsidies on auction efficiency, government revenue, and … experiment suggests that the price guarantee improves efficiency and that it often increases production and revenue. An important … guarantee, and hence with more uncertainty in the auction, this increases the chances that risk-loving bidders win the auction …