, i.e., the first best, is not implementable. Our first main result is that the open ascending auction is not second best … main result is that the second best can be implemented with a two-round auction used in real-life privatizations. We also … show how this result generalizes using a survival auction with a novel tie-breaking rule. …

implemented via a simple two-stage qualifying auction. In the first stage of the qualifying auction, non-binding bids are … submitted to determine who enters the second stage, which consists of a standard second-price auction augmented with a reserve …

. The effects of an auction depend on what the bidders compete. With a bid auction, the bidders compete on how much money … they transfer to the government. This auction leads to the same outcome as the unregulated game (for a given market … structure), since this gives the maximum profit to transfer. An auction on the capacity of a facility leads to an even lower …