-submodular in income and type. We then show that when bidders are risk averse (preferring), the equilibrium price sequences should … the Vickrey sequential auctions. In particular, the "declining price anomaly" is perfectly consistent with nonincreasing …

auction in the world. We find that there is a substantial price decline and suggest that the presence of a buyer's option …, whereby the winner of the first auction has the opportunity to buy the remaining units at the winning price, is a main … this declining price anomaly. In this paper we analyze data on sequential Dutch auctions of roses from the largest flower …

This paper provides a structural empirical analysis of Dutch auctions of houseplants at the flower auction in Aalsmeer …, the Netherlands. The data set is unique for Dutch auctions in the sense that it includes observations of all losing bids … auction participants, and as such these data are collectible due to neurological constraints on information processing. The …

of the English auction. We discuss how this finding is related to the seller's degree of risk aversion, the reserve price … auction - in a setting that extends Maskin and Riley (1984, Econometrica 52: 1473-1518) in three aspects: (i) the seller can … be risk averse, (ii) the bidders can have heterogeneous risk preferences, and (iii) the auction can have a binding …

as equilibrium phenomena of the ascending auction. In a series of experiments, we compare its performance to that of the … discriminatory auction. Strategic demand reduction is quite prevalent in the ascending auction even when entry by the newcomer … imposes a (large) negative externality on incumbents. As a result, the ascending auction performs worse than the …

bidders, the expected revenue and the optimal bid function in a first price auction result in complicated expressions, except …

firms' risk attitudes and the fact that future market prof-its are uncertain so that winning an auction is like winning a …

-bidders' auction is similar to the Hawk-Dove game, which motivates to study symmetric NEs: Properties and comparative statics are …

case they have the highest bid on more than one object. This type of auction has been used in the Netherlands and in …A simultaneous pooled auction with multiple bids and preference lists is a way to auction multiple objects, in which … Ireland to auction available spectrum. We show that this type of auction does not satisfy elementary desirable properties such …