auction sites including eBay and General Motors Assistance Corporation. A buyer in a buy price auction can accept the buy … price to win with certainty and end the auction early. Intuitively, the buy price option may appeal to bidders who are risk … aversion and time preferences. We develop a private value model of bidder behavior in a buy price auction with a temporary buy …

, i.e., the first best, is not implementable. Our first main result is that the open ascending auction is not second best … because it is prone to rushes, i.e., all active bidders quitting simultaneously, that undermine its efficiency. Our second … main result is that the second best can be implemented with a two-round auction used in real-life privatizations. We also …

their auction end at the evening, when many potential buyers may be online. …

A human subject laboratory experiment compares the real-time market performance of the two most popular auction formats … papers by Varian (2007) and Edelman, et al. (2007) seem to organize the data well overall. Efficiency under VCG exceeds that … configurations and is statistically significant in most treatments. Revenue capture tends to be similar across auction formats in …

A human subject laboratory experiment compares the real-time market performance of the two most popular auction formats … papers by Varian (2007) and Edelman et al. (2007) seem to organize the data well overall. Efficiency under VCG exceeds that … configurations and is statistically significant in most treatments. Revenue capture tends to be similar across auction formats in …

generalized second price auctions. However, such an auction or mechanism could be considered unfair if similar consumers are … assignment can improve fairness while improving efficiency in some circumstances. …

information' assumption. The ad value is characterized by a tractable analytical solution given observed auction parameters. Using … Yahoo! search auction data, we estimate value distributions and study the bidding behavior across product categories. We …