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. We approached about 4500 households, each participating in either an all-pay auction, a lottery, a non …-pay auction and the lottery. Although the all-pay auction is the superior fundraising mechanism both in theory and in the … anomaly. First, participation in the all-pay auction is substantially lower than in the other mechanisms while the average …
Persistent link: https://www.econbiz.de/10011255620
Learning is a subject of intense research in experimental economics. We contribute to this debate by presenting persuasive evidence that learning took place among uninformed heterogeneous agents on a quasi-stock market during a large-scale natural experiment that by size, incentives, and...
Persistent link: https://www.econbiz.de/10005146552
This paper reports the results of an experimental wine auction. Participants of the experiment were randomly assigned …
Persistent link: https://www.econbiz.de/10005027414
approached about 4500 households, each participating in an all-pay auction, a lottery, a non-anonymous voluntary contribution … mechanism (VCM), or an anonymous VCM. In contrast to the VCMs, households in the all-pay auction and the lottery competed for a … prize. Although the all-pay auction is the superior fundraising mechanism both in theory and in the laboratory, it did not …
Persistent link: https://www.econbiz.de/10010736911
approached about 4500 households, each participating in an all-pay auction, a lottery, a non-anonymous voluntary contribution … mechanism (VCM), or an anonymous VCM. In contrast to the VCMs, households in the all-pay auction and the lottery competed for a … prize. Although the all-pay auction is the superior fundraising mechanism both in theory and in the laboratory, it did not …
Persistent link: https://www.econbiz.de/10010776959
approached about 4500 households, each participating in either an all-pay auction, a lottery, a non-anonymous voluntary … contribution mechanism (VCM), or an anonymous VCM. In contrast to the VCMs, households competed for a prize in the all-pay auction … and the lottery. Although the all-pay auction is the superior fundraising mechanism both in theory and in the laboratory …
Persistent link: https://www.econbiz.de/10009003388
empirically, about the properties of charity auctions. The small theoretical literature suggests that the all-pay auction should … by the first price auction. Our design also allows us to identify differential participation as the source of the …
Persistent link: https://www.econbiz.de/10005762357
In sequential auctions objects are sold one by one in separate auctions. These sequential auctions might be organised as sequential first-price, second-price, or English auctions. We will derive equilibrium bidding strategies for these auctions. Theoretical models suggest that prices in...
Persistent link: https://www.econbiz.de/10010938627
in predicting whether or not an artwork sells at auction, (3) there is little supporting evidence for the widespread …
Persistent link: https://www.econbiz.de/10005504297
It is widely believed that fluctuations in transaction volume, as reflected in the number of transactions and to a lesser extent their size, are the main cause of clustered volatility. Under this view bursts of rapid or slow price diffusion reflect bursts of frequent or less frequent trading,...
Persistent link: https://www.econbiz.de/10012736021