Li, Xinyu; Haan, Marco; Onderstal, Sander; Veldman, Jasper - 2023
farm auctions and evaluates the impact of price guarantees and subsidies on auction efficiency, government revenue, and … guarantee, and hence with more uncertainty in the auction, this increases the chances that risk-loving bidders win the auction …, thus compromising auction efficiency. The subsidy is less effective than suggested by theory. Bidders with a higher …