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Sealed Bid Auctions vs. Ascending Bid Auctions: An Experimental Study
Andersson, Christer; Andersson, Ola; Andersson, Tommy - Institutet för Näringslivsforskning (IFN) - 2011
This paper considers the sealed bid and ascending auction, which both identifies the minimum Walrasian equilibrium prices and where truthful preference revelation constitutes an equilibrium. Even though these auction formats share many theortical properties, there are behavioral aspects that are...
Persistent link: https://www.econbiz.de/10009323347
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Trade and Security, I: Anarchy
Anderson, James E.; Marcouiller, S.J. Douglas - Institutet för Näringslivsforskning (IFN) - 1997
trade. Utility-maximizing agents opt between careers in specialized production and careers in predation. Three types of … security. Since changes in security have terms of trade effects, some producers may be hurt by enhanced security. We show cases …
Persistent link: https://www.econbiz.de/10010818498