Biais, Bruno; Bisière, Christophe; Pouget, Sébastien - Institut d'Économie Industrielle (IDEI), Toulouse … - 2009
We experimentally analyze equilibrium discovery in i) a pure call auction, ii) a call auction preceded by a nonbinding preopening period, and iii) a call auction preceded by a binding preopening period. We examine whether a preopening period can facilitate coordination on the Pareto dominant...