We scrutinize the scope of auctions in the presence of downstream interactions and information externalities by using …-cost firm under incomplete information: a separating auction implies adverse selection and relies substantially on commitment to … allocation and transfer rules. A pooling auction serves as a commitment device against ex-post opportunistic behavior and …

If firms compete in all-pay auctions with complete information, silent shareholdings introduce asymmetric externalities … into the allpay auction framework. If the strongest firm owns a large share in the second strongest firm, this may make the …

This paper studies how bidding strategies and auction outcomes are affected by downstream competition, particularly for … USFS timber auctions. This is done by extending the auction estimation literature to a model where outside competition … affects bidding behavior in that bidders are then not only concerned with whether they win the auction, but also the identity …