degree of complexity by offering various levels of decision support. Our results show that the equivalence of the two auction …

In an auction with a buy price, the seller provides bidders with an option to end the auction early by accepting a … transaction at a posted price. This paper develops a model of an auction with a buy price in which bidders use the auction … to augment her auction with a buy price and demonstrates that the seller sets a higher reserve price when she can affect …

point due to updated information about others' values (i.e., the own winning probability) during the course of the auction …, and make optimal binary decisions at each price (approve or quit in the English auction and wait or bid in the Dutch … auction). First, we solve for personal equilibrium profiles, i.e., profiles of bids that contain for each bidder a bidding …

I analyze private value auction design and assume only that bidders are risk averse and have positive wealth effects (i … the auction design problem with respect to both efficiency or revenue maximization. On efficiency, I show that … probabilistic allocations of the good can Pareto dominate the second price auction; and there is no dominant-strategy mechanism that …

degree of complexity by offering various levels of decision support. Our results show that the equivalence of the two auction …

-dependent preferences. -- Repeated markets ; Economic principles ; Anomalies ; Experiment ; Social interactions …

) the likelihood an auction is won by its highest-bidder. I conduct an auction experiment with bribery in which auctioneers … exchange for an auctioned item, b) their preference over soliciting a bribe from an auction’s highest- or lowest-bidder, and c … aligning auctioneers’ personal profit-maximization objectives with the desired outcome of the auction mechanism reduces the …