study, regulation by competitiv e auction cannot replicate the second-best zero-profit result. For more complex networks … parameter range considered in the numerical simulation, entry by generalized auction performs better than entry by patronage … auction. …

self-financing still holds in expected terms. Regulation by competitive auction cannot replicate the second-best zero … uncertainty, some form of auction performs better than others with demand uncertainty. …

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 …