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Every year during school and college admissions, students and their parents devote considerable time and effort to acquiring costly information about their own preferences. In a market where students are ranked by universities based on exam scores, we explore ways to reduce wasteful information...
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When applying to a university, students and their parents devote considerable time acquiring information about university programs in order to form preferences. We explore ways to reduce wasteful information acquisition, that is, to help students avoid acquiring information about out-of-reach...
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In procurement auctions, bidders are usually better informed about technical, financial, or legal aspects of the goods …
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market conditions, and provides a theoretical explanation of low price equilibria in simultaneous, ascending-bid auctions ….In particular it is shown that the low price equilibrium that implements the efficient allocation is the unique perfect equilibrium …
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competitive market structure than other UMTS auctions in Europe. The present paper explains the design of that auction, and …
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