We study the relative performance of the first-price sealed-bid auction and the second-price sealed-bid auction in a … winner's payment to an outside observer. We find that the first-price sealed-bid auction in which the winner's payment is …

We investigate experimentally whether emotions affect bidding behavior in a firstprice auction. To induce emotions, we … confront subjects after a first auction series with apositive or negative random economic shock. We then explore the relation … between emotions andbidding behavior in a second auction series. Our main results are: (i) the economic shock has asubstantial …

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 …

-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 …