Ye, Lixin; Kagel, John; Pevnitska, Svetlana - Econometric Society - 2004
Ascending price clock auctions with drop-out information typically yield outcomes closer to equilibrium predictions … than do comparable sealed-bid auctions. However clock auctions require congregating all bidders for a fixed time interval … paper studies whether such inefficiencies can be removed by implementing a survival auction mechanism. Survival auctions are …