Jehiel, Philippe; Moldovanu, Benny - In: Journal of the European Economic Association 2 (2004) 2-3, pp. 516-525
Government-sponsored auctions for production rights (e.g., license auctions, privatizations, etc.) shape the industry structure. Are there mechanisms that induce an efficient industry structure (at least when there are no positive costs to public funds)? The answer is "no" whenever firms have...
