place in the auction rendering the negotiation prior to the auction obsolete. An experimental test of the model provides …

the information about agents provided by the eBay market institution and their behavior. Information about buyers is … correlated with their deviation from true value bidding. Sellers respond strategically to this information when deciding on their … Buy-It-Now prices. Thus, our results highlight potential economic consequences of information publicly available in …

environment. This guarantees the test of the theoretical predictions in a highly controlled environment and at the same time …

implying heterogeneous bargaining behavior and - equally important - preferences are private information. As the sunk … reveal information that is unfavorable in the ensuing bargaining. After finding all perfect Bayesian equilibria in pure …-post bargaining. The present paper investigates the efficiency of incomplete contracts if individuals have heterogeneous preferences …

We consider a variant of the Tullock rent-seeking contest. Under symmetric information we determine equilibrium … private and complete information. Yet, under additional assumptions, rent dissipation is still smaller in the latter settings …. Numerical examples illustrate that there is no general ranking between private and complete information. The results depend on …

strategic behavior of the agents, both under symmetric and asymmetric information. Using novel data from Palm Beach County (FL …, US), we find evidence of both strategic behavior and asymmetric information, with the lender being the informed party …. Moreover, the data are consistent with moral hazard in mortgage securitization: banks collect less information about the value …

that makes all bids visible, and apply it to a 'wallet auction' experiment. Finally, we test the theory against various …

to contribute to the team output. We vary the type of information the second mover receives prior to his effort choice …