Drawing on the real-options theory we analyse bidding behaviour in a sealed-bid-first-score procurement auction where … suppliers, facing variable production costs, must simultaneously report the contract price and the cost level at which they …

We study the effects of corruption on equilibrium competition and social welfare in a first-price public procurement … auction. In our model, firms are invited into the auction at positive costs, and a bureaucrat runs the auction on behalf of a … bureaucrat will invite more than socially optimal number of firms into the auction. Secondly, the effects of corruption on …

estimate the time it takes an online auction to reach a pre-specified price threshold. The motivation for the research is to … in traditional auctions, these sellers are content to sell as soon as some target price is reached. While a wealth of … literature exists on the final rent of the various stakeholders in a traditional auction setting, what is of interest here is to …

structure, does the availability of true marginal prices for electricity products affect the price/quantity bids submitted by … market participants? First, we analyse the price movements within this market since 2007 to produce a model which best … describes the data. Second, we test the auction design of the electricity markets experimentally. The current auction design is …

I show that in a private value multi-unit uniform-price auction, the reservation price increases both the efficiency … seller increases the reservation price, the bidders increase their bids on the units with greater shading. Then more often … value do not participate in the auction. In contrast to some other auction formats, for a low range of reservation prices …

We analyze a new auction format in which bidders pay a fee each time they increase the auction price. Bidding fees are … predicts a particular distribution of ending prices, which we test against observed auction data. Our model fits the data well …

Auction data often contain information on only the most competitive bids as opposed to all bids. The usual measurement …

% of online auctions. Furthermore, we also find the probability of the inefficient online auction is more than 0.25 …

This paper contrasts two auction formats often used in public procurement: first price auctions with ex-post screening … analysis reveals that their ranking is ambiguous in terms of revenues, but the average bid auction is typically less efficient … is estimated for the sub-sample of first price auctions and used to quantify the efficiency loss under counterfactual …