We extend Wilson (1979) share auction framework to model the uniform-price US Treasury auction as a two-stage multiple … its bidding behavior in handling the risk of being short-squeezed or face the winner curse in the post-auction market …

heterogenous response improves screening efficiency: 1) all employees place similar value on staying in their current role; 2) the … announcement reduced the screening efficiency gap - defined as the reduction of screening efficiency stemming from the partial …

auction- and firm-level data from the Federal Communications Commission, I empirically investigate whether the bidding … agreement rule leads to differential auction outcomes for firms that are members of such agreements, versus other firms. I find …

the spot market. -- capacity market ; procurement auction ; electricity market ; competitive equilibrium …

.S. Forest Service timber auctions, we document a set of systematic effects of auction format: sealed bid auctions attract more … for these qualitative effects of auction format. We then calibrate the model using parameters estimated from the data and … bidder competitiveness, which has important consequences for auction choice. …

We model the uniform-price US Treasury security auction as a static symmetric game of incomplete information in which … each payer is a primary dealer who submits a demand schedule given two independent sources of private information – his pre-auction … we show how his pre-auction short position impacts his bidding behavior – in particular: the dealer's demand for the …