Section this week is going to be based on the paper "Securites Auctions under Moral Hazard: An Experimental Study" by Shimon Kogan and John Morgan. We will be going over both the theory and experimental results. I strongly recommend taking a glance at the paper before section, particularly the theory covered in section 2, so that you are familiar with the approach before we go over it in class. You can find it here:
http://faculty.haas.berkeley.edu/rjmorgan/Securities%20auctions.pdf
Slides from section can be found here.
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