propose a model of corruption, examine how corruption affects the auction game, how the anticipation of corruption affects … that may prevent corruption, and compare them to the fee schedules employed by major auction houses. …

auction is the better selling mechanism. However, why exactly an auction should be preferred is unclear. Here we present an …

We analyze strategic leaks due to spying out a rival’s bid in a first-price auction. Such leaks induce sequential …

-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 … alleviates adverse selection. It can earn the investor a higher expected payoff than a separating auction, even when consistency …

a simple design initially enhances competition in the auction. Moreover, the procurer cannot benefit from using a multi …-dimensional auction, as the optimal scoring rule depends only on the price. …

overbidding in auctions. As a workhorse we use the second-price all-pay and the first-price winner-pay auction. Both risk and …. Indeed, we find that spite is a more convincing explanation for bidding behavior for the second-price all-pay auction. Not …

. Employing an order-balanced design, we use first-price auctions (FPAs) to expose participants to an auction format in which …