Alternating-offer and demand bargaining models of legislative bargaining make very different predictions in terms of both ex ante and ex post distribution of payoffs, as well as in the role of the order of play. The experiment shows that actual bargaining behavior is not as sensitive to the...

Bidding is studied in first-price common value auctions where an insider is better informed than other bidders (outsiders). As in symmetric information structure (SIS) auctions, inexperienced outsiders suffer from a strong winner's curse. Super-experienced bidders, who have largely overcome the...