Which is the more profitable way to sell a company: a public auction or an optimally structured negotiation with a … smaller number of bidders? We show that under standard assumptions the public auction is always preferable, even if it … at least one extra bidder. An immediate public auction also dominates negotiating while maintaining the right to hold an …

This paper compares outcomes from informally negotiated oil and gas leases to those awarded via centralized auction. We …

, versus the option of making the reserve public by using it as the minimum bid level. In a field experiment, we auction 50 …Sellers in eBay auctions have the opportunity to choose both a public minimum bid amount and a secret reserve price. We … that secret reserve prices make us worse off as sellers, by reducing the probability of the auction resulting in a sale …

this question, we offer a framework that compares auctions with negotiations. We then examine a comprehensive data set of … potential limitations to the use of auctions. Auctions perform poorly when projects are complex, contractual design is … incomplete and there are few available bidders. Furthermore, auctions stifle communication between buyers and the sellers …

-now options) in online auctions, as well as some of the literature dealing with online-auction design (including stopping rules …The economic literature on online auctions is rapidly growing because of the enormous amount of freely available field … data. Moreover, numerous innovations in auction-design features on platforms such as eBay have created excellent research …

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 …

Bidders' risk attitudes have key implications for choices of revenue-maximizing auction formats. In ascending auctions … transaction prices and participation decisions in ascending auctions with entry costs. Nonparametric tests are proposed for two … entry costs but contains exogenous variations of potential competition and auction characteristics. In the first scenario …

have a fixed end time. A natural experiment is available because the auctions on Amazon, while operating under otherwise …There is a great deal of late bidding on internet second price auctions. We show that this need not result from either … private value auctions. The reason is that very late bids have a positive probability of not being successfully submitted, and …

Choice screen auctions have been recently deployed in 31 European countries, allowing consumers to choose their … show that a seemingly minor detail in the design of these auctions--whether they are conducted on a "per appearance" or a … "per install" basis--plays a major role in the mix and characteristics of auction winners, and, consequently, in their …

-auto auctions, an $80 billion industry where buyers and sellers participate in alternating-offer bargaining when the auction price … fails to reach a secret reserve price. Using 270,000 auction/bargaining sequences, this study nonparametrically estimates …