-bidders' auction is similar to the Hawk-Dove game, which motivates to study symmetric NEs: Properties and comparative statics are …

-price dimensions after the auction. Both auctions theoretically implement the surplus maximizing mechanism. Our experiment confirms …

. The effects of an auction depend on what the bidders compete. With a bid auction, the bidders compete on how much money … they transfer to the government. This auction leads to the same outcome as the unregulated game (for a given market … structure), since this gives the maximum profit to transfer. An auction on the capacity of a facility leads to an even lower …

aggregate dispersed information. Another reason behind the frequent utilization of open auction formats may be that they … and in the potential activation of behavioral biases: (i) the ascending Vickrey auction, a closed format; and two open … formats, (ii) the Japanese-English auction and (iii) the Oral Outcry auction. Even though bidders react to information …

We experimentally examine the collusive properties of two commonly used auctions: the English auction (EN) and the … first-price sealed-bid auction (FPSB). In theory, both tacit and overt collusion are always incentive compatible in EN while … both can be incentive compatible in FPSB if the auction is repeated and bidders are patient enough. We find that the …

This paper characterizes the optimal first-price auction (FPA) and second-price auction (SPA) for selling rights …