This paper compares whether the first-price sealed-bid tender or the ascending English open auction generates higher revenue for the seller. Using a unique data for land sales and accounting for the presence of an endogenous discrete mechanism choice variable, our results show that the...

In a standard auction, bidders bid more aggressively when the number of bidders increases. However, Krishna and Rosenthal (1996, Games and Economic Behavior) show that when bidders have multiple-unit demand that generates positive synergies, bidders bid less aggressively as the number of bidders...