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 considers a government auctioning off multiple licenses to firms who compete in a market after the auction …. Firms have different costs, and cost efficiency is private information at the auction stage and the market competition stage …. If only one license is auctioned, standard results say that the most efficient firm wins the auction (license) as it will …

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 …

In a field experiment, we study the revenue-generating properties of premium auctions. In a premium auction, the runner … that the relative performance of premium auctions compared to standard auction formats is context-specific. In the … experiment, we compare two types of premium auctions with the standard Vickrey auction selling high-quality, limited …

predicts individual landowners' bids, overall participation rates in the auction, as well as the expected net benefits to the … conservation agency. We find that market efficiency of the auction increases in the number of potential corridors. We use … simulations to compare a benchmark auction with two policy scenarios in a hypothetical landscape. In one scenario, members of a …

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 …