We compare auction revenues from discriminatory auctions and uniform price auctions in the case of the Korean treasury bonds auction market. For this purpose, we employ detailed bidder level data for each of 16 discriminatory auctions recently carried out in Korea. We first theoretically recover...

When a seller gives a buyer a right of first refusal, although it reduces the competing buyers' profits and creates an inefficiency, it always increases the joint profit of the seller and the right holder. Right of first refusal with a consideration (e.g., a payment from the right holder to the...

With the availability of a rich data set, we will develop a new method of conducting structural analysis of ascending auctions under the simplest valuation paradigm, the symmetric IPV model. The data set allows us to adopt a nonparametric approach and make strong interpretation of observed bids,...