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In auctions an outside seIler offers a commodity for sale and collects the revenue w hich is achieved. In fair division games the object is owned by the group of bidders. Consequently the auction's revenue is equally distributed among all bidders. In our experiment participants face four auction...
Persistent link: https://www.econbiz.de/10010309999
We review an asymmetric auction experiment. Based on Plum (1992) private valuations of the two bidders are independently drawn from distinct but commonly known distributions, one of which stochastically dominating the other. We test the qualitative properties of that model of asymmetric...
Persistent link: https://www.econbiz.de/10010310347