A viager real estate transaction consists in selling a property in return for a down payment and a life annuity that the buyer has to pay until the seller dies. This paper tests for the presence of asymmetric information in this market using notarial data on transactions in Paris between 1993...

This paper reports the results of an experiment in which subjects had to buy real products in 5 different budget/price situations. Subjects were randomly drawn from the population of a medium-sized French city, and some of their socio-economic characteristics were recorded. We check the...

"This paper studies multi-unit ascending (English) auctions with a buyer's option. The buyer's option gives the winner of an auction the right to purchase any number of units at the winning price. We develop a theoretical model and derive the optimal strategies for the bidders. The model...