We scrutinize the scope of auctions in the presence of downstream interactions and information externalities by using …-cost firm under incomplete information: a separating auction implies adverse selection and relies substantially on commitment to … allocation and transfer rules. A pooling auction serves as a commitment device against ex-post opportunistic behavior and …

If firms compete in all-pay auctions with complete information, silent shareholdings introduce asymmetric externalities … into the allpay auction framework. If the strongest firm owns a large share in the second strongest firm, this may make the …

This paper studies how bidding strategies and auction outcomes are affected by downstream competition, particularly for … USFS timber auctions. This is done by extending the auction estimation literature to a model where outside competition … affects bidding behavior in that bidders are then not only concerned with whether they win the auction, but also the identity …

Two experimental treatments are used to study the effects of auction risk across five mechanisms. The first canonical … neutral Nash equilibrium is prevalent in all common auction mechanisms except for the English auction. We do not find evidence …

informational externalities (PIE). This assumption implies upward drifting price sequences at sequential auctions, which is … environment, in which the bidders' values can exhibit both PIE and NIE (negative informational externalities). The case of NIE can … bidders' expected values. We consider a general sequential auction mechanism that sells m identical objects through K (≤m …

common. Should external costs have considerable influence on site selection outside of the auction process, optimal bidding …-cost bidding. This is less likely when externalities are not internalised. For markets where bids are competitively priced, this … paper provides evidence to suggest that methods to minimise externalities associated with renewables deployment should be …

as equilibrium phenomena of the ascending auction. In a series of experiments, we compare its performance to that of the … discriminatory auction. Strategic demand reduction is quite prevalent in the ascending auction even when entry by the newcomer … imposes a (large) negative externality on incumbents. As a result, the ascending auction performs worse than the …

choose whether to participate in an auction to attain pollution permits, or instead invest in green R&D, to show that …, somewhat counterintuitively, a side effect of the auction is in fact that of fostering environmental R&D in an admissible range …

efficient allocation of the objects for sale, especially when the bidders impose strong negative externalities upon each other …. This paper argues that these inefficiencies can be avoided by asking bidders prior to the auction to submit any public … before the auction itself takes place. …