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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
This paper studies the effects of overreaction to recent news for macroeconomic outcomes in the context of a quantitative model of sovereign debt and default. Overreaction is formalized in terms of …
Discussion paper
A growing literature discusses negative effects of the Covid-19 pandemic on college students’ learning outcomes. We extend this literature to vocational education and study the effect of the first …
Discussion paper