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We study the effect of a state level mandate on renewable heating technologies on the housing market. The mandate requires a minimum share of 10 % renewable energy sources when changing the heating system in the existing building stock. As renewable energy sources are still more expensive than...
Persistent link: https://www.econbiz.de/10012052747
Auctions with endogenous rationing have been introduced to stimulate competition. Such (procurement) auctions reduce the volume put out to tender when competition is low. This paper finds a strong negative effect of endogenous rationing on participation when bid-preparation is costly,...
Persistent link: https://www.econbiz.de/10012195628
cognitive skills. Employing an order-balanced design, we use first-price auctions (FPAs) to expose participants to an auction …
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In Buy-It-Now auctions, sellers can post a take-it-or-leave-it price offer prior to an auction. While the literature …
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Anchoring is a robust behavioral phenomenon modeled predominantly as a bias in individual judgment. We propose a game-theoretic model that considers players’ beliefs about others’ behavior as a mediator for the effect of the anchor on a player’s choice. The results establish that anchoring...
Persistent link: https://www.econbiz.de/10013191577
auction. We analyse experimentally how eBay sellers set BIN prices and whether they benefit from offering them. Using the real … eBay environment in the laboratory, we find that the eBay auction format supports deviations from truthful bidding leading … to auction prices substantially below those expected in second-price auctions. Our results reveal that the observed price …
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