Merlob, Brian; Plott, Charles R.; Zhang, Yuanjun - In: The Quarterly Journal of Economics 127 (2012) 2, pp. 793-827
We report on the experimental results of simple auctions with (i) a median-bid pricing rule and (ii) nonbinding bids (winning bids can be withdrawn)--the two central pillars of the competitive bidding program designed by the Centers for Medicare and Medicaid Services (CMS). Comparisons between...