I develop a dynamic search model of the housing market in which prices, determined by auction, exhibit greater … buyer with the highest value. In hot markets, the highest values fluctuate more than the average values, making the auction …

Focusing on the art market, where auction houses act as brokers between art sellers and buyers, we investigate whether … auctioned the artworks of a certain artist in a given location. We find that more experienced auction houses (i) are more likely …

average of buyers' house values determines the house price. In the auction model the buyer is chosen by the maximum bid among … volatility arises in the auction model because of the competition between buyers with heterogeneous values. With heterogeneous … increase more than the average values, making the sales price more volatile. This high volatility is efficient, since the …

Governmental agencies use score procurement auctions to incorporate other attributes beyond price in their purchase …-bid- first-price auctions to multi-attribute score auctions by incorporating the optimal bidding structure …

This paper studies equilibrium selection in the generalized second price auction, employed by major search engines to …

We study a seller who sets a reserve price in a second price auction with uncertainty over the joint distribution of … solve for this distribution. We find that the seller's optimal reserve price tends to be low and converges to zero in …

&T outlining an auction design that would achieve all of this in a single auction process. The paper proposes to offer incumbents … vouchers in an auction in exchange for their legacy licenses. The vouchers would entitle incumbents to an incentive payment … corresponding to their holdings in MHz-pops at auction clearing prices. This paper formed the basis for the design ultimately …

the set-aside and to price determination in the 600 MHz auction. The purpose of this paper is to provide interested …The 600 MHz auction conducted by Innovation, Science, and Economic Development (ISED) in Canada was a Combinatorial … Clock Auction (CCA) that used a spectrum set-aside to prevent three large national wireless providers—specifically, Bell …

We investigate the role of market transparency in repeated first-price auctions. We consider a setting with independent … minimal disclosure regime each bidder only learns privately whether he won or lost the auction. In equilibrium the allocation …