This thesis studies the impact of sequential auction design on participant behavior from both a theoretical and an empirical viewpoint. In the first of the two analyses, three sequential auction designs are characterized and compared based on expected profitability to the participants. The optimal bid strategy is derived as well. One of the designs, the alternating design, is a new auction design and is a blend of the other two. It assumes that the ability to bid in or initiate an auction is given to each side of the market in an alternating fashion to simulate seasonal markets. The conditions for an equilibrium auction design are derived and characteristics of the equilibrium are outlined. The primary result is that the alternating auction is a viable compromise auction design when buyers and suppliers disagree on whether to hold a sequence of forward or reverse auctions. We also found the value of information on future private value for a strategic supplier in a two-period case of the alternating and reverse auction designs. The empirical work studies the cause of low aggregation of timber supply in reverse auctions of an online timber exchange. Unlike previous research results regarding timber auctions, which focus on offline public auctions held by the U.S. Forest Service, we study online private auctions between logging companies and mills. A limited survey of the online auction data revealed that the auctions were successful less than 50% of the time. Regression analysis is used to determine which internal and external factors to the auction affect the aggregation of timber in an effort to determine the reason that so few auctions succeeded. The analysis revealed that the number of bidders, the description of the good and the volume demanded had a significant influence on the amount of timber supplied through the online auction exchange. A plausible explanation for the low aggregation is that the exchange was better suited to check the availability for custom cuts of timber and to transact standard timber.

The City of Stockholm has undergone a curious process of considering whether to launch a bid for the 2026 Winter Olympic Games. That Stockholm has contemplated launching a bid is not surprising from a regional perspective—the Olympic Games have not been held in a Scandinavian country since Lillehammer, Norway played host in 1994 and Sweden has never hosted the Winter Olympics. A potential bid from Stockholm would also be consistent with Sweden's self-identification and embracement of being a 'sportive nation'. Failed applications by the Swedish cities of Gothenburg, Falun, and Östersund to host the Winter Olympic Games confirm the long-standing interest of the Swedish Olympic Committee to secure the Games, although it should be noted that the Swedish Olympic Committee did not submit a bid for the 2006, 2010, 2014 or 2018 Winter Olympic Games competitions. Although recent reports indicate that Stockholm will not vie for the 2026 Winter Olympic Games, the notion that the city was even considering the option remains surprising. Stockholm had withdrawn its bid from the 2022 bidding competition citing a variety of concerns including a lack of government and public support, financial uncertainty, as well as the post-event viability of purpose-built infrastructure. Stockholm's withdrawal from the 2022 competition resonates with the growing apprehension by potential bid cities (especially those emerging from democratic countries) towards the Olympic Games. This thesis seeks to illustrate that Stockholm's Olympic hopes have book-ended a transformative period in the Olympic bidding process and to expose the struggle that bid cities have in adjusting to the demands of the IOC's bidding process. / Master of Science