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laboratory experiment where bidders can signal information through their bidding behaviour to an outside observer. We consider … for the design of charity auctions, art auctions, and spectrum auctions …
Persistent link: https://www.econbiz.de/10012908650
In recent years, a significant problem with the carbon credit market has been the higher than initially predicted price volatility. It is essential to study the market in a repeated-period dynamic setting to identify the factors enabling high fluctuations in prices. In this paper, we examine the...
Persistent link: https://www.econbiz.de/10013214329
reserve price that would set a minimum price in allowance auctions. Opponents of an auction reserve price in the EU ETS have …
Persistent link: https://www.econbiz.de/10012847075
This paper presents an empirical model of sponsored search auctions in which advertisers are ranked by bid and ad …
Persistent link: https://www.econbiz.de/10014259686
candidate is expectations: what people expect could affect how they feel about what actually occurs. In a real-effort experiment …
Persistent link: https://www.econbiz.de/10010264587
Evidence suggests that participants in direct student-proposing deferred-acceptance mechanisms (DA) play dominated strategies. To explain the data, we introduce expectation-based loss aversion into a school-choice setting and characterize choice-acclimating personal equilibria in DA. We find...
Persistent link: https://www.econbiz.de/10013310767
We use four incentivized representative surveys to study the endowment effect for lotteries in 4,000 U.S. adults. We replicate the standard finding of an endowment effect—the divergence between Willingness to Accept (WTA) and Willingness to Pay (WTP), but document three new findings. First, we...
Persistent link: https://www.econbiz.de/10014262473
Overbidding in second-price auctions (SPAs) has been shown to be persistent and associated with cognitive ability. We … study experimentally to what extent cross-game learning can reduce overbidding in SPAs, taking into account cognitive skills …. Employing an order-balanced design, we use first-price auctions (FPAs) to expose participants to an auction format in which …
Persistent link: https://www.econbiz.de/10013314693
We report results from the first experimental study of round-robin tournaments. In our experiment, we investigate how …
Persistent link: https://www.econbiz.de/10013293842
overbidding in auctions. As a workhorse we use the second-price all-pay and the first-price winner-pay auction. Both risk and …In this paper we use an experiment to compare a theory of risk aversion and a theory of spite as an explanation for … spite can be used to rationalize deviations from risk neutral equilibrium bids in auctions. We exploit that equilibrium …
Persistent link: https://www.econbiz.de/10012018322