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Many auctions and procurement contests entail nontrivial bidding costs, which makes the bidders’ participation decisions endogenous to the auction design. We analyze the effect of different auction …
Discussion paper
I examine the long-established scheme of furloughs in Finland, using detailed data on unemployment spells from 1999 to 2021. Furloughs allow employers in financial difficulty to suspend wages and …
Discussion paper
Chasing and the house money effect are well-known phenomena in dynamic environments of risky activities such as investment decisions or gambling. Recent studies suggest that such behavior emerges …
Discussion paper