We show that standard winner-pay auctions are inept fund-raising mechanisms because of the positive externality bidders forgo if they top another's high bid. Revenues are suppressed as a result and remain finite even when bidders value a dollar donated the same as a dollar kept. This problem does not occur in lotteries and all-pay auctions, where…

This bulletin is designed as an outline to direct the attention of local officials to various features and steps meriting attention in planning and carrying out a school-plant construction program. Planning, administration, and construction practices and procedures may vary with buildings of different sizes or types of construction or with those…