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| Author: | Athey, S. Levin, J. |
| Title: | Information and competition in U.S. forest service timber auctions |
| Journal: | Journal of Political Economy
2001 : APR, VOL. 109:2, p. 375-417 |
| Index terms: | AUCTIONS COMPETITION FORESTRY INDUSTRY INFORMATION USA |
| Language: | eng |
| Abstract: | This paper analyzes the role of private information in U.S. Forest Service timber auctions. In these auctions, firms bid a per unit price for each timber species. Total bids are computed by multiplying these prices by Forest Service volume estimates, but payments depend on actual volumes harvested. The authors develop an equilibrium theory for these auctions. |
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