Consider a government tendering the right to operate, for example, an airport, telecommunication network, or utility. There is an 'incumbent bidder' who owns a complement or substitute facility, and one entering 'new bidder'. With a 'standard auction' on the payment to the government, the...

Einzelne Berufsverbaende haben in den letzten Jahren eigenstaendige Tarifvertraege erkaempft. Damit sind sie in einen tarifpolitischen UEberbietungswettbewerb mit den etablierten DGB-Gewerkschaften eingetreten. Am Beispiel von Vereinigung Cockpit, Marburger Bund und GDL wird gezeigt, dass der...

Experimental sealed-bid first-price auctions with private values in which feedback on the losing bids is provided yield lower revenues than auctions where this feedback is not given. The concept of weighted impulse balance equilibrium, which is based on a principle of ex post rationality and...