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Auctions with endogenous price ceiling : theoretical and experimental results

Veszteg, Robert F.; Akai, Kenju; Saijō, Tatsuyoshi; … - 2009

This paper analyzes an auction mechanism that excludes overoptimistic bidders inspired by the rules of the procurement auctions adopted by several Japanese local governments. Our theoretical and experimental results suggest that the endogenous exclusion rule reduces the probability of suffering...

Persistent link: https://www.econbiz.de/10003921779

Auctions with Endogenous Price Ceiling : Theoretical and Experimental Results

Saijo, Tatsuyoshi - 2009

Persistent link: https://www.econbiz.de/10013158242

Characterizing the Vickrey combinatorial auction by induction

Chew, Soo-Hong; Serizawa, Shigehiro - In: Economic theory : official journal of the Society for … 33 (2007) 2, pp. 393-406

Persistent link: https://www.econbiz.de/10003537257

Individual Behavior of First-Price Sealed-Bid Auctions: The Importance of Information Feedback in Experimental Markets

Neugebauer, Tibor; Selten, Reinhard - 2002

This article reports the results of a first-price sealed-bid auction experiment, which has been designed to test the … and competed with computerized bids. Three treatments were considered which varied with the conditions of information … data provide evidence that this overbidding regularity can be a consequence of the standard information feedback in auction …

Persistent link: https://www.econbiz.de/10010263057

Vickerey allocation rule with income effect

Saitoh, Hiroki; Serizawa, Shigehiro - 2005

mechanisms are often employed to extract the information on companies' abilities and to allocate licenses efficiently. However …

Persistent link: https://www.econbiz.de/10010332345

Vickrey allocation rule with income effect

Saitoh, Hiroki; Serizawa, Shigehiro - In: Economic theory : official journal of the Society for … 35 (2008) 2, pp. 391-401

Persistent link: https://www.econbiz.de/10003654477

Vickerey allocation rule with income effect

Saitoh, Hiroki (contributor); … - 2005

mechanisms are often employed to extract the information on companies’ abilities and to allocate licenses efficiently. However …

Persistent link: https://www.econbiz.de/10003246504

Serial Vickrey Mechanism

Zhou, Yu - 2020

We study an assignment market where multiple heterogenous objects are sold to unit demand agents who have general preferences accommodating imperfect transferability of utility and income effects. In such a model, there is a minimum price equilibrium. We establish the structural...

Persistent link: https://www.econbiz.de/10012826424

Experimental stock market dynamics : excess bids, directional learning, and adaptive style-investing in a call-auction with multiple multi-period lived assets

Selten, Reinhard; Neugebauer, Tibor - In: Journal of economic behavior & organization : JEBO 157 (2019), pp. 209-224

Persistent link: https://www.econbiz.de/10012138483

A strategy-proof mechanism should be announced to be strategy-proof : an experiment for the Vickrey auction

Masuda, Takehito; Sakai, Toyataka; Serizawa, Shigehiro; … - 2019

We conduct laboratory experiments for the Vickrey auction with and without an announcement on strategy-proofness to subjects. Although the rate of truth-telling among the subjects stays at 20% without the announcement, it increases to 47% with the announcement. Moreover, by conducting...

Persistent link: https://www.econbiz.de/10012024698