This paper analyzes an auction mechanism that excludes overoptimistic bidders inspired by the rules of the procurement … exclusion rule reduces the probability of suffering a monetary loss induced by winning the auction, and also mitigates the … problem of the winner's curse in the laboratory. However, this protection comes at the price of a lower revenue for the seller …

price is revenue-inferior. Optimal auctions are otherwise contentless: any auction that sells without reserve becomes …Potential bidders respond to a seller’s choice of auction mechanism for a common-value or affiliated-values asset by …. Privately informed participants decide whether to incur a bid-preparation cost and pay an entry fee, or cease competing. Auction …

price is revenue-inferior. Optimal auctions are otherwise contentless: any auction that sells without reserve becomes …Potential bidders respond to a seller's choice of auction mechanism for a common-value or affiliated-values asset by …. Privately informed participants decide whether to incur a bid-preparation cost and pay an entry fee, or cease competing. Auction …

We examine auction data to determine if bid rigging presents in procurement auctions for paving works in Ibaraki City … the ring is all-inclusive if the auction is not the bidding war, we estimate the scheme by which the ring allocates a win …

solutions. (ii) We provide a complete characterisation of such equilibria and compare quality, price and expected scores across …

first-price auctions (FPAs) in their public procurements. The EMP is calculated based on its relation to the average of all … procedure. Producers who join this new auction institution have the incentive to raise their bids and pull up the EMP in order … new auction institution (i) are close to the production cost and coincide with those of the standard FPA under the …

payoff is driven down to the second-price auction level. Our analysis suggests that having the discretion to price …Auctions are a popular and prevalent form of trading mechanism, despite the restriction that the seller cannot price …-discriminate among potential buyers. To understand why this is the case, we consider an auction-like environment in which a seller with …

This paper analyzes an all-pay auction where the winner is determined according to the sum of the bid and a handicap …” of the equilibrium strategy in an all-pay auction without handicaps. The paper also discusses the allocation rule …

(every object is allocated to some agent). The minimum Walrasian equilibrium price (MWEP) mechanism is desirable. We show …