, versus the option of making the reserve public by using it as the minimum bid level. In a field experiment, we auction 50 … that secret reserve prices make us worse off as sellers, by reducing the probability of the auction resulting in a sale …, deterring serious bidders from entering the auction, and lowering the expected transaction price of the auction. We also present …

Bidders' risk attitudes have key implications for choices of revenue-maximizing auction formats. In ascending auctions … entry costs but contains exogenous variations of potential competition and auction characteristics. In the first scenario … and the certainty equivalent - is strictly positive if and only if bidders are risk averse. Our test is based on …

passed without a bid. The strategic differences in the auction rules are reflected in the auction data by significantly more … about ending the auction playing an important role …

from auction experiments, we estimate four alternative structural models of bidding in first-price sealed-bid auctions: 1 …Recently, economists have developed methods for structural estimation of auction models. Many researchers object to … explore whether structural auction models can generate reasonable estimates of bidders' private information. Using bid data …

“per install” basis—plays a major role in the mix and characteristics of auction winners, and, consequently, in their … number of such users. The distortion becomes worse as the auction gets more competitive and the number of bidders increases …

Most wage-contracting models with rational expectations fail to replicate the persistence in inflation observed in the … workers. If workers' expectations are based on the past behavior of wage growth, these beliefs will be self-fulfilling and …

's expectations. These expectations are unrelated to fundamentals. Arbitrarily large fluctuations in macroeconomic variables may …

Ticketmaster. We first show theoretically that Ticketmaster's auction design, a novel variant of position auctions, has attractive … efficiency, revenue and no-arbitrage properties. Then, by combining primary-market auction data from Ticketmaster with secondary …

the type of auction considered. The equilibria of a static auction with this distribution of values is used to … characterize the equilibria of the dynamic auction, making this general class very tractable. As a result of the option of future … rebidding, early bids are shaded and under mild conditions increase toward the end of the auction. Our results are consistent …

information that relies on price-taking and rational expectations. We first characterize sovereign bond prices for different …