Political Business Cycles in Local Employment

SSRN Electronic Journal 01/2005; DOI: 10.2139/ssrn.775365
Source: RePEc


I modify the uniform-price auction rules in allowing the seller to ration bidders. This allows me to provide a strategic foundation for underpricing when the seller has an interest in ownership dispersion. Moreover, many of the so-called "collusive-seeming" equilibria disappear.

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Available from: Francisco José Veiga, Oct 09, 2015
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