learns his own valuation. Using a simple discrete asymmetric first-price auction setting, we show that a bidder may indeed …-price auction model. Finally, we use a specific signaling structure with uniform distributions to show that signaling need not be …

trade. Those auctions come in a variety of different formats, such as the Buy-It-Now auction format on eBay, that allows … sellers to post prices at which buyers can purchase a good prior to the auction. Even though, buyer behavior is well studied … auction market (the eBay platform and eBay traders) with the techniques of lab experiments. We find a striking link between …

of a multi-object auction. After the auction either all bids or only the prices to be paid are revealed to all firms … bidders' costs generally depends on the type and fierceness of the market competition, the specific auction format, and the …

effort and private information. We compare two procurement mechanisms where potential sellers first bid in an auction for …-price auction. We characterize Bayesian Nash equilibria such that both mechanisms are payoff-equivalent and induce the same efforts … and innovations. In these equilibria, signaling in the entry auction does not occur since contestants play a simple …

In this paper the sequence of winning bids in the public auction of used cars in New Jersey is examined for the … sale. In a further contrast to many other studies, these data indicate that the prices tend to increase as the auction …

We analyze the welfare consequences of an increase in the commissions charged by the organizer of an auction … of tax incidence in consumer economics. We argue, however, that auction markets deserve a separate treatment. Indeed we …