This paper provides a structural empirical analysis of Dutch auctions of houseplants at the flower auction in Aalsmeer … auction participants, and as such these data are collectible due to neurological constraints on information processing. The … Gibbs sampler with data augmentation. We take account of data limitations concerning the number of bidders. The estimation …

-bidders' auction is similar to the Hawk-Dove game, which motivates to study symmetric NEs: Properties and comparative statics are …

constrained bidders. Succeedingly we propose an ascending auction mechanism that always results in an equilibrium allocation and … underdemanded set, or there is neither overdemand nor underdemand anymore. In the latter case the auction stops. In the former case …, precisely one item will be sold, the bidder buying the item leaves the auction and the auction continues with the remaining …

-price dimensions after the auction. Both auctions theoretically implement the surplus maximizing mechanism. Our experiment confirms …

auction in the world. We find that there is a substantial price decline and suggest that the presence of a buyer's option …, whereby the winner of the first auction has the opportunity to buy the remaining units at the winning price, is a main … data estimation techniques. …

as equilibrium phenomena of the ascending auction. In a series of experiments, we compare its performance to that of the … discriminatory auction. Strategic demand reduction is quite prevalent in the ascending auction even when entry by the newcomer … imposes a (large) negative externality on incumbents. As a result, the ascending auction performs worse than the …

bidders, the expected revenue and the optimal bid function in a first price auction result in complicated expressions, except …

firms' risk attitudes and the fact that future market prof-its are uncertain so that winning an auction is like winning a …