. Enterprises embarking on a reverse auction initiative often start with their commodity purchases. We conduct laboratory … sealed bid auction and has the same symmetric Nash equilibrium. However, the request for quote allows identification of … strategies in the sell auction counterpart. Consequently we estimate that one-fourth of the subjects follow a simple mark-up rule …

such procurement is an English auction followed by an auctioneer's option to engage in ultimatum bargaining with the winner …. We study behavior and performance in this procurement format using a laboratory experiment. Sellers closely follow the … equilibrium strategy of exiting the auction at their costs and then accepting strictly profitable offers. Buyers generally …

€“bid auction with an additional buyer is conducted. The theoretical model predicts that with risk neutral agents all sales take … place in the auction rendering the negotiation prior to the auction obsolete. An experimental test of the model provides …

tax it would pay for acquiring monopoly rights on a particular venture, posted publicly on a government-auction website … pain of losing the auction to a competitor. With minimal government intervention, the “invisible hand” of economic theory …

In an auction with a buy price, a seller offers bidders the opportunity to forgo competing in an auction by transacting … auction's reserve price and buy price, she does best to keep her aspirations sufficiently low by designing a no …-reserve auction with a buy price low enough that some bidder types would exercise it with positive probability in equilibrium. The …

-quantity pair, perfect collusion with equal sharing of profit is easier to sustain in the uniform price auction than in the … corresponding discriminatory auction. Moreover, capacity withholding may be necessary to sustain this outcome. Even when firms may …

The paper compares different auction formats for sale of a single patented innovation for budget constrained bidders … auction price and also to develop the new technology, the winner has incentives to pay a low amount for his unit to increase … equilibria for all studied auction mechanisms. These equilibria produce di¤erent consumer surplus and, thus, a central government …