Auction Theory

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Second Chance Offers in Second Price and English Auctions (with Aniruddha Bagchi and Timothy Mathews), Available upon request. (2011)

This paper examines situations in which a seller might make a second chance (take-it-or-leave-it) offer...

 

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Output and Price Level Effects of Monetary Uncertainty in a Matching Model (with John Kennan and Neil Wallace), Journal of Economic Theory (2003)

Monetary uncertainty and information lags are put into a random matching model so that the...

 

Healthcare

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Designed to Fail: The Medicare Auction for Durable Medical Equipment (with Peter Cramton), Working Paper, University of Maryland (2010)

We examine the theoretical properties of the proposed auction format for Medicare Durable Medical Equipment....

 

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Comment on Hoerger: Early Pilots of Medicare Auctions Bring No Solace to Auction Experts (with Peter Cramton), The Economists' Voice (2011)

Peter Cramton and Brett Katzman stick to their guns: Medicare auctions remain fatally flawed and...

 
Reducing Healthcare Costs Requires Good Market Design (with Peter Cramton), The Economists' Voice (2010)

Healthcare costs are no doubt too high, and Congress has been pushing for 13 years...

 

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The Relation Between Variance and Information Rents in Auctions (with Julian Reif and Jesse Schwartz), International Journal of Industrial Organization (2010)

This paper examines the conventional wisdom, expressed in McAfee and McMillan's (1987) widely cited survey...

 

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Decision Analysis and the Principal-Agent Problem (with Penny Verhoeven and Hope Baker), Decision Sciences Journal of Innovative Education (2009)

The article discusses the classroom lecture that improves the traditional instruction in decision analysis by...

 

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Asymptotic Properties of Equilibrium in Discriminatory and Uniform Price IPV Multi-Unit Auctions, Economics Bulletin (2009)

This paper confronts the tractability problems that accompany IPV auction models with multi-unit bidder demands....

 

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The Consequences of Information Revealed in Auctions (with Matthew Rhodes-Kropf), Applied Economics Research Bulletin (2008)

This paper considers the ramifications of post-auction competition on bidding behavior under different bid announcement...

 

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Will Competitive Bidding Decrease Medicare Prices? (with Kerry Anne McGeary), Southern Economic Journal (2008)

Recent measures to reduce Medicare spending include the use of competitive bidding in determining reimbursement...

 

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An Empirical Investigation of the Social Market for Cigarettes (with Sara Markowitz and Kerry Anne McGeary), Health Economics (2007)

A major characteristic of teenage smoking is the ability to bum cigarettes from peers. To...

 

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The Role of Varying Risk Attitudes in an Auction with a Buyout Option (with Timothy Mathews), Economic Theory (2006)

An auction with a buyout option is modeled. Such an option allows a bidder to...

 

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Socially Beneficial Mergers: A New Class of Concentration Indices (with Nejat Anbarci), Florida International University, Department of Economics Working Papers Series 0504 (2005)

The prominent Herfindahl-Hirschman index (HHI), yields a higher concentration level in response to any merger...

 

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The Impact of Lending, Borrowing, and Anti-Smoking Policies on Cigarette Consumption by Teens (with Sara Markowitz and Kerry Anne McGeary), NBER Working Papers: 8844 (2002)

A major factor contributing to smoking initiation and experimentation by teenagers is the ability to...

 

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A Two Stage Sequential Auction with Multi-unit Demands, Journal of Economic Theory (1999)

Working within the independent private values paradigm, the author examines a sequence of two second...

 

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Optimal Monetary Impulse-Response Functions in a Matching Model (with John Kennan and Neil Wallace), NBER Working Paper Series 7425 (1999)

The effects on ex ante optima of a lag in seeing monetary realizations are studied...

 
A Theoretical and Empirical Investigation of Multi-unit Auctions with Diminishing Marginal Valuation. Dissertation (1996)

This dissertation contains both a theoretical and empirical analysis of the sale of two objects...