An important question in the dynamic European wholesale markets for electricity is whether to define the geographical …

This paper characterizes the optimal first-price auction (FPA) and second-price auction (SPA) for selling rights …

We investigate experimentally whether emotions affect bidding behavior in a first price auction. To induce emotions, we … confront subjects after a first auction series with a positive or negative random economic shock. We then explore the relation … between emotions and bidding behavior in a second auction series. Our main results are: (i) the economic shock has a …

, contractual, and legal solutions. Our results show that auctions (competition among many informed buyers) provide a solution to …

approached about 4500 households, each participating in either an all-pay auction, a lottery, a non-anonymous voluntary … contribution mechanism (VCM), or an anonymous VCM. In contrast to the VCMs, households competed for a prize in the all-pay auction … and the lottery. Although the all-pay auction is the superior fundraising mechanism both in theory and in the laboratory …

class of games, and show how it can be used to directly solve for equilibrium behavior in auctions, pricing games …

There is by now a large literature arguing that auctions with a variety of after-market interactions may not yield an …. This paper argues that these inefficiencies can be avoided by asking bidders prior to the auction to submit any public … auctioneer. We show that auctions with flexible entry fees have a fully revealing equilibrium where bidders signal their type …

We experimentally examine the effectiveness of a leniency program against bidding rings in two commonly used auctions …: the English auction (EN) and the first-price sealed-bid auction (FPSB). Our results show that the leniency program does …. The results do not differ substantially across auction types although the deterrence effect of the leniency program is …

Unique-lowest sealed-bid auctions are auctions in which participation is endogenous and the winning bid is the lowest … bid among all unique bids. Such auctions admit very many Nash equilibria (NEs) in pure and mixed strategies. The two …-bidders' auction is similar to the Hawk-Dove game, which motivates to study symmetric NEs: Properties and comparative statics are …

We study auctions in which the number of potential bidders is large, such as in Internet auctions. With numerous … bidders, the expected revenue and the optimal bid function in a first price auction result in complicated expressions, except … Internet auctions. …