We study the endogenous participation problem when bidders are characterized by a twodimensional private information on valuations and participation costs in first-price auctions. Bidders participate whenever their private costs are less than or equal to the expected revenue from participating....

We develop a model of scarce renewable resources to study the problem of the commons. Our model formulation differs from the existing literature in that it assumes the use of the commons to be stochastic in nature. One example is microwave spectrum for mobile and wireless communications. We...

This paper studies equilibria of second price auctions in independent private value envi- ronments with different participation costs. Two types of equilibria are identified: monotonic equilibria in which a bidder with a lower participation cost results in a lower cutoff for sub- mitting a bid,...