In a second-price sequential auction with both global and local bidders, we explore the optimal order for selling …

We present a competing-auction theory of the labor market, where job candidates auction their labor services to … employers. An equilibrium matching function emerges which has many of the features commonly assumed, including constant returns … to scale in large economies. The auction mechanism also generates equilibrium wage dispersion among homogeneous workers …

uncertainty can be resolved but both processes are costly. Intermediaries (recruiters) can perform the job matching but only at … to negotiate by itself. We study the role of an external intermediary who uses a Vickrey auction to discriminate between … lowers the social efficiency of matching if workers choose recruiters randomly. If we allow recruiters to announce their …

The purpose of this paper is to compare the two auction techniques (discriminatory and uniform-price auctions) most … auction. Theoretical models arrive at different rankings for expected revenue; however, they do reveal the relationship … between the bids submitted and the auction technique. These results are confirmed both by 'laborator' experiments and the …

-post screening process when they procure construction contracts. However, this first price auction had been criticized because it was … auction method was recently replaced by a version of the average price auction with a similar screening process. This paper …In Korea, local governments and local agencies had to apply a version of the first price auction augmented by an ex …

search-matching models of the labor market. This 'intertemporal surplus sharing' (ISS) solution is usually defended as the … argue that such extreme assumptions on the risk of breakdown during disagreement are unattractive in the context of a search-matching …

We present a competing-auction theory of the labor market, where job candidates auction their labor services to … employers. An equilibrium matching function emerges which has many of the features commonly assumed, including constant returns … to scale in large economies. The auction mechanism also generates equilibrium wage dispersion among homogeneous workers …

relatively straightforward to implement: as a local auction conducted by sellers. The implications of using this mechanism in a …