This paper revisits recent empirical research on buyer credulity in arts auctions and auctions for assets in general …

post. We show that this is achieved by bilateral negotiations but not by auctions. Negotiations strictly outperforms … auctions if sellers are likely to have superior information about possible design improvements, if renegotiation is costly, and … incentives for sellers to investigate possible design improvements than auctions. This provides an explanation for the widespread …

The literature on license auctions for process innovations in oligopoly assumed that the auctioneer reveals the winning …, partial, and no disclosure of bids, which correspond to standard auctions. We show that more information disclosure increases …

profitable than standard license auctions, auctioning royalty contracts, fixed–fee licensing, pure royalty licensing, and two …