This paper extends the multistage procedure set out in Fried et al (1999) to examine the importance of environmental factors when assessing the technical efficiency of water agencies. However, following Simar and Wilson's (2007) critique of multistage efficiency analyses, the paper uses a...

This paper considers optimal auctions where individuals' valuations have both a private and common value component. We show that when the set of potential buyers and seller are symmetrically uninformed regarding the common value component, it may be socially optimal not to resolve this common...