Can the TARP Work?

I’ve got a piece at the main site today called "Rolling Out the TARP", going into a bit of detail about whether and how this whole reverse-auction thing might work in practice. It’s based largely on a paper by Ausubel and Cramton which I first discovered chez Cowen; a big hat tip there.

I think we’re also the first people to use that headline. I’m quite sure we won’t be the last.

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