Collects papers from Hugo Sonnenschein's students with the aim of demonstrating his impact as an advisor. Each paper in this work is accompanied with a preface by the student that provides background on the paper and indicates Hugo's influence on its genesis. All papers herin, lie in...

This paper shows the existence of monotone pure-strategy equilibrium in auctions with both common-value bidders and private-value ones. In equilibrium, the common-value bidders bid less aggressively when there are more private-value bidders. Further, resale is discussed as an application.

We examine how buyers’ behaviors, sellers’ profits and the social welfare (the total surplus of all sellers and buyers) vary with the order of sellers in sequential auctions where sellers have different reservation values. First, when reserve prices are exogenously set to be sellers’...