This paper explores, through a series of experiments, the effect of shill bidding upon revenues and prices in auctions. We study the practice of shill bidding in a common value framework. Our findings are consistent with the theoretical prediction that, if bidders are aware of the possibility of...

This paper aims at presenting the methodological approach to simulations, proposed at the beginning of the sixties by a group of scholars of the Carnegie Mellon University. This approach can be defined cognitive and behavioural, because of the attention to real perception and decision-making and...