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This dissertation presents a game theoretic approach to bidding fee auctions
with independent private values. I analyze these auctions under two bidding
window rules. In a sequential bidding auction the round moves forward immediately
after a bid was submitted. In a multiple round auction, the round moves
forward only after all players have submitted their action. Under the assumption
that the bidders may either have a low value or a high value for the object,
I show that multiple equilibria, with relevantly different characteristics, may
arise under either rule. Moreover, the rule that maximizes the seller’s revenue
depends on the the probability of a high value bidder.