This paper studies equilibria of second price auctions in independent private value envi- ronments with different participation costs. Two types of equilibria are identified: monotonic equilibria in which a bidder with a lower participation cost results in a lower cutoff for sub- mitting a bid,...

This paper studies equilibria of second price auctions when values and participation costs are both privation information and are drawn from general distribution functions. We consider the existence and uniqueness of equilibrium. It is shown that there always exists an equilibrium for this...

This paper investigates whether an efficient all-inclusive cartel mechanism studied by McAfee and McMillan (1992) can still preserve its efficiency when bidders can update their information through the cartel’s collusive mechanism and there is a cost to participate in the seller’s auction...

This paper studies equilibria of second price auctions when valuations and participation costs are both private information with general distribution functions. We consider the existence and uniqueness of equilibrium in this general framework of two-dimensional types. It is shown that there...

In 2005 the highest global surface temperature ever was recorded. A virtual consensus exists today among scientists that global warming is underway and that human greenhouse gas (GHG) emissions are a significant cause. Possible mitigation of climate change through reduction of net GHG emissions...

Animal disease outbreaks either through deliberate terroristic act or accidental introductions present a serious economic problem. This work concentrates on the economics of choosing strategies to mitigate possible agricultural terrorism and accidental introduction events largely in the animal...

OAK-B135 The results produced by this project include: (1) Development of econometrically estimated marginal abatement and associated production curves describing response of agricultural and forestry emissions/sink/offsets enhancements for use in integrated assessments. Curves were developed...