We report on the results of an experiment designed to disentangle behavioral biases in information aggregation of …

-cost firm under incomplete information: a separating auction implies adverse selection and relies substantially on commitment to …We scrutinize the scope of auctions in the presence of downstream interactions and information externalities by using … allocation and transfer rules. A pooling auction serves as a commitment device against ex-post opportunistic behavior and …

This paper reports on experiments testing the viability of markets for cheap talk information. We find that the poor … quality of the information transmitted leads to a collapse of information markets. The reasons for this are surprising given … the previous experimental results on cheap-talk games. Our subjects provide low-quality information even when doing so …

information' assumption. The ad value is characterized by a tractable analytical solution given observed auction parameters. Using … Yahoo! search auction data, we estimate value distributions and study the bidding behavior across product categories. We …

's information is certifiable. The first equilibrium characterization is provided for unilateral persuasion games, and the second for … his equilibrium payoff compared to all equilibria of the unilateral persuasion game by delaying information certification. …

We consider an experiment with a version of the Battle of the Sexes game with two-sided private information, allowing a … truthful revelation of information and subsequent payoffs from the game. We find that the players are overall truthful about …-talk equilibrium in the two-way cheap talk game is played when they players fully reveal their information; however, they achieve …

a simple design initially enhances competition in the auction. Moreover, the procurer cannot benefit from using a multi …-dimensional auction, as the optimal scoring rule depends only on the price. …

. Employing an order-balanced design, we use first-price auctions (FPAs) to expose participants to an auction format in which …