discriminatory auction. Strategic demand reduction is quite prevalent in the ascending auction even when entry by the newcomer …Multi-unit ascending auctions allow for equilibria in which bidders strategically reduce their demand and split the … exclude entrants from the market. We consider an environment where both demand reduction and preemptive bidding are supported …

We use data on sequential water auctions to estimate demand when units are complements or substitutes. A sequential … English auction model determines the estimating structural equations. When units are complements, one bidder wins all units by … all units. We recover individual demand consistent with this stark pattern of outcomes and confirm it is not collusive …