Englmaier, Florian; Guillen, Pablo; Llorente, Loreto; … - CESifo - 2006
Multi-unit auctions are sometimes plagued by the so-called exposure problem. In this paper, we analyze a simple game called the ‘chopstick auction’ in which bidders are confronted with the exposure problem. We do so both in theory and in a laboratory experiment. In theory, the chopstick...