Nishimura, Naoko; Cason, Timothy N.; Saijo, Tatsuyoshi; … - In: Games 2 (2011) 3, pp. 365-411
The paper presents a complete information model of bidding in second price sealed-bid and ascending-bid (English …. The model also predicts different bidding behavior in second price as compared to ascending-bid auctions. The paper also … overbid more than higher value bidders, and they overbid more frequently in the second price auction than in the ascending …