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

We study the relative performance of the first‐price sealed‐bid auction and the second-price sealed‐bid auction in a … laboratory experiment where bidders can signal information through their bidding behaviour to an outside observer. We consider … reveals the winner’s payment to an outside observer. We find that the first‐price sealed‐bid auction in which the winner …

An auction is externality-robust if unilateral deviations from equilibrium leave the other bidders' payoffs unaffected … externalities due to spiteful preferences, which have been used to explain overbidding in the second-price auction (SPA). Another … example are cross-shareholdings between companies that compete in an auction. We derive an auction that coincides with the SPA …

-cost firm under incomplete information: a separating auction implies adverse selection and relies substantially on commitment to … allocation and transfer rules. A pooling auction serves as a commitment device against ex-post opportunistic behavior and … alleviates adverse selection. It can earn the investor a higher expected payoff than a separating auction, even when consistency …

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. …

design to evaluate how prices differ along regulation boundaries that constrain resource development. The auction format and …

their bids in the closing minutes or seconds of an auction. Late bids of this sort are much less frequent in auctions that … show that sniping in a fixed deadline auction can occur even at equilibrium in auctions with private values, as well as in … that apply the automatic extension rule. The strategic differences in the auction rules are reflected in the field data …

This paper considers bidder behaviour in the United Kingdom s UMTS spectrum auction. Evidence is reviewed which shows … that some bidders in this auction did not bid straightforwardly in accordance with fixed valuations of the licenses. We go … strong direct evidence. We conclude that the rationalization of bidding in the United Kingdom s UMTS auction remains …

German (and Austrian) UMTS auction. In particular, we discuss in detail the exposure problem that caused firms in Germany to …

We consider auction games where, prior to the auction, bidders spend resources to increase their valuations. The market …