Almost Ideal Demand System (AIDS) has a flexible functional form that can first order approximate any sets of demand functions derived from utility maximizing behavior. This flexibility, however, comes with a cost of estimating numerously many parameters, hindering practical use of this model....

The uniform price auction often allows financially constrained bidders to bid on, with auctioneersputting restrictions on bids to prevent bidders to pay a price that they cannot afford. For example, Google’s initial public offering (IPO) and Korea’s emission trade system auctions restrict...