Chernomaz, Kirill; Levin, Dan - In: Games and Economic Behavior 76 (2012) 2, pp. 611-635
We study, theoretically and experimentally, sealed-bid first-price auctions with and without package bidding. In the … the equilibrium, package bidding improves (hurts) efficiency at high (low) levels of synergies. Package bidding introduces … qualitatively consistent with the theory. The effect of package bidding on revenues is negative when global bidders are not allowed …