We analyze sequential second-price auctions under complete information involving two or more bidders with similar decreasing marginal valuations. Krishna (1999) designed a 2-bidder numerical example to show the existence of two symmetric equilibria characterized by an asymmetric allocation and...

We analyze sequential second-price auctions under complete information involving two or more bidders with similar decreasing marginal valuations. Krishna (1999) designed a 2-bidder numerical example to show the existence of two symmetric equilibria characterized by an asymmetric allocation and...

We first show in the context of sequential multi-unit auctions under complete information that a seller's revenue may increase or decrease as the number of buyers increases, even when the additional bidders win an object. We use data from the Quebec daily hog auction to empirically analyze the...

An input distance function (IDF) is estimated to empirically evaluate and analyze the technical and environmental efficiencies of 210 farms located in the Chaudière watershed (Quebec), where water quality problems are particularly acute because of the production of undesirable outputs that are...