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We compare auctioning and grandfathering as allocation mechanisms of emission permits when there is a secondary market with market power and the firms have private information. Based on real-life cases such as the EU ETS, we consider a multi-unit, multi-bid uniform auction, modelled as a...
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We use data on sequential water auctions to estimate demand when units are complements or substitutes. A sequential …
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The literature on license auctions for process innovations in oligopoly assumed that the auctioneer reveals the winning …, partial, and no disclosure of bids, which correspond to standard auctions. We show that more information disclosure increases …
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