point due to updated information about others' values (i.e., the own winning probability) during the course of the auction …, and make optimal binary decisions at each price (approve or quit in the English auction and wait or bid in the Dutch … auction). First, we solve for personal equilibrium profiles, i.e., profiles of bids that contain for each bidder a bidding …

and unobserved auction heterogeneity, and propose a Bayesian estimation method based on Bernstein polynomials. Monte Carlo …

bidding for bidders with high valuations and has important implications for auction design …

We compare two procurement mechanisms, bundling and unbundling, in a two-stage auction model with risk-averse suppliers …. They differ in whether two sequential tasks of investment and production are procured through a single auction or two … sequential auctions. Each auction adopts a first-price format. A winner is awarded a fixed-price contract. Each supplier …