inputs. Finally, the results suggest evidence of increasing returns to scale in the production of the electricity industry …

We consider competitive bidding for a business license, via an open ascending-price auction, between two symmetric …

We consider a model where bidders in an auction own passive partial claims over their rivals’ auction profits. While …-value auction, we find that such cross ownership has an effect similar to reducing the number of bidders while holding constant the … distribution of the highest value in the auction. A similar decrease in competition occurs in independent private-value second …

Most of the literature on auctions assumes that the auctioneer owns the object on sale. However most auctions are … particular form of corruption on bidding behavior in a single-object, private-value auction with risk-neutral bidders. Bidders … type of collusion between a dishonest rival and the auctioneer. In a first price auction, an honest bidder can become more …

paper studies whether such inefficiencies can be removed by implementing a survival auction mechanism. Survival auctions are … the auction from one round to the next. Such auctions have been shown to be strategically equivalent to ascending … the survival version of the auction, and therefore whether such auctions can be successfully implemented in practice. …

We study security-bid auctions in which bidders compete for an asset by bidding with securities. That is, they offer … payments that are contingent on the realized value of the asset being sold. Standard auction mechanisms (such as first …-price and second-price auctions) are not well defined unless the set of securities is restricted to an ordered set. For example …

-object auctions, allowing for within-cartel transfers. Our primary focus is on (i) coalitions that contain a strict subset of all … reports of cartel members or their bids at the auction. We show there are cases in which a coalition at a first price auction … coalition at a second price auction captures the entire collusive gain. For collusion to be effective at a first price auction …

How do informational asymmetries between bidders affect the outcome of common value auctions? Should the seller accept … second-price sealed bid auction that lets the insider win only if his bid is above a hurdle price …