, however, efficiency may no longer be guaranteed. This paper develops an ascending price auction based on Ausubel & Milgrom … (2002)'s package auction that posesses an efficient Nash equilibrium in pure strategies leading to a core allocation. No …, truthful revelation of valuations is found to a dominant strategy. The auction can be augmented to include explicitly the …

This paper extends the Fishman (1988) model of preemptive jump bidding in private value takeover auction to auctions …

We study the impact of auction design on the final prices paid by telecommunications operators for the past two decades … and a wide range of socio-economic indicators. Using a micro dataset of almost every mobile spectrum auction performed so … far – both regional and national – we show that auction design affects final prices paid. Two combinations of lot pricing …

I develop a dynamic search model of the housing market in which prices, determined by auction, exhibit greater … volatility than prices in the search and matching model with Nash bargaining from the literature. This helps solve the puzzle of … buyer with the highest value. In hot markets, the highest values fluctuate more than the average values, making the auction …

volatility arises in the auction model because of the competition between buyers with heterogeneous values. With heterogeneous … average of buyers' house values determines the house price. In the auction model the buyer is chosen by the maximum bid among …

auction. This effect appears not to be driven by i) differences in observable characteristics; ii) differences in real estate …

results for multi-object auction models with agents with multi-unit demand, and matching with contracts models are also …In multi-object auction models with unitary demand agents, if agents utility functions satisfy quasi-linearity, three … auction formats, sealed-bid auction, exact ascending auction, and approximate ascending auction, are known to identify the …

We study a multi-unit auction environment similar to eBay. Sellers, each with a single unit of a homogenous good, set …

In this paper we develop a Bayes-Nash analysis of the Generalized Second Price (GSP) auction, the mechanism used by …