We study a class of common-value second-price auctions with differential information. This class of common-value … auctions is characterized by the property that each player's information set is connected with respect to the common value. We …

We conduct a laboratory experiment of second-price sealed bid auctions of a common value good with two bidders. Bidders …

We study in the laboratory a series of first price sealed bid auctions of a common value good. Bidders face three types …

A unique indivisible commodity with an unknown common value is owned by group of individuals and should be allocated to …-Stenzel, Königstein, and Strobel (2002, 2005)) theoretically and experimentally for the common value case and compare our results to the … corresponding common value auction. Whereas symmetric risk neutral Nash equilibria are rather similar for both games, behavior …

common-value elements serves to magnify the impact of adverse selection, as a bidder supplying a higher-cost product …

auction, a popular auction in the Middle Ages. Considering a common value framework, we theoretically and experimentally point …