seller for inviting an additional bidder. Our auction model allows bidders to discount their synergy values when rivals …

asymmetric first-price auctions. It is based on the structural analysis of auction data and is consistent with antitrust damage …

benefit up to 13% from adopting a common reserve price rule equal to 120% of the Wine Department's pre-auction value estimate …

If bidders are better informed than the seller about a common component of auction heterogeneity, the seller can …‐price auction under unobserved auction heterogeneity-imperfectly observed by the seller-that captures this rationale and derive … perfect information about unobserved auction heterogeneity would increase surplus by 5.22%. Combining a secret reserve price …

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 …

-bidding equilibrium coexists with a continuum of inefficient equilibria in which the speculator wins the auction and makes positive … auction and distorts the final allocation depends on the number of bidders, the value distribution, and the discount factor …