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Are commonly known beliefs essential for bidding behavior in asymmetric auctions? Our experimental results suggest that not informing participants how values are randomly generated does not change behavior much and may even make it appear more rational.
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’ costs are easily estimated. If, however, the individualcosts of bidders are private information, effective ring formation is …
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of the standard model which do not respond to changes in supply or demand. Despite incomplete information, equilibrium …
Persistent link: https://www.econbiz.de/10005750729
information of a single informed insider,however, is less well understood. We analyse this question by presenting a simplecall … auction game where both auction prices and limit prices of uninformed tradersre°ect potential insider information. The … trading volume, uninformed traders fail to incorporate the (potential)insider information in their limit prices. We also …
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