We contribute to the literature on the optimal design of auction mechanisms for the procurement of nature conservation …

though the fees themselves implicitly reduce competition at the auction stage. We also highlight that admission fees and … and Klemperer (1996) that market thickness often takes precedence over market power in auction design …

We study the relative performance of the first‐price sealed‐bid auction and the second-price sealed‐bid auction in a … reveals the winner’s payment to an outside observer. We find that the first‐price sealed‐bid auction in which the winner …

We study the impact of colors of paintings on prices in the art auction market and incorporate color attributes of non ….63% (4.20%). We also conduct laboratory experiments in China, the Netherlands, and U.S., and elicit participants' willingness …

Here we analyze how, in an open procurement auction, cost reductions among suppliers bidding to sell to a buyer affect …

We extend Wilson (1979) share auction framework to model the uniform-price US Treasury auction as a two-stage multiple … quantity effect by which the primary dealer increases its quantity, and the price effect by which the primary dealer decreases … its bidding behavior in handling the risk of being short-squeezed or face the winner curse in the post-auction market …

This paper firstly analyzes the Liquidity Enhancement Auction, which is a unique auction implemented in the Japanese … auction to issue additional older bonds that lack liquidity. Our results show that this auction significantly improves the … liquidity measure when the MOF uses this auction to supply older bonds. Moreover, we empirically show that this auction provides …

price auction. There are at least three potential bidders in the market which differ in their willingness to pay for the … auction and obtains the license. In stage 2, it purchases inputs required for producing the particular service which is then …

We propose a novel approach to the modelling of second-price Maximum-Value auctions that assumes no belief about others …, deals with bidders' anticipated regrets from winning and from losing the auction. It exploits the stochastic properties of … the auction format and rationalizes: (i) Nash equilibrium bidding, (ii) (non-)monotone overbidding and (iii) fully cursed …

price margin decreases with time and we find that the incumbent winner of a previous auction is more likely to participate …This paper studies the extent to which equilibrium land auction prices are pushed up sequentially due to strategic … bidding behaviors in government land auction sales. Using a unique data set that covers the universe of tendering prices …