This paper estimates a structural model of the Brazilian carbonated soft drink industry to test the claim that the observed low prices of low-end entrants owe to marginal cost advantages over the large, established brands, allegedly stemming chiefly from tax evasion. Such entrants, numbering in...

We use data on sequential water auctions to estimate demand when units are complements or substitutes. A sequential English auction model determines the estimating structural equations. When units are complements, one bidder wins all units by paying a high price for the first unit, thus...

In 1966, the irrigation community in Mula (Murcia, Spain) switched from a market (auction), which had been in place in the town for over 700 years, to a system of fixed quotas with a ban on trading, to allocate water from the town's river. We present a model, in which farmers face liquidity...