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

laboratory experiment, we compare the effects of bidders' limited liability in the first-price sealed-bid auction and the English … auction in a common value setting. Our data strongly reject our theoretical prediction that the English auction leads to less … aggressive bids and fewer bankruptcies than the first-price sealed-bid auction. X-cursedness gives a robust explanation of our …

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 …

laboratory experiment, we compare the effects of bidders' limited liability in the first-price sealed-bid auction and the English … auction in a common value setting. Our data strongly reject our theoretical prediction that the English auction leads to less … aggressive bids and fewer bankruptcies than the first-price sealed-bid auction. <I>X</I>-cursedness gives a robust explanation of …

We study the relative performance of the first-price sealed-bid auction and the second-price sealed-bid auction in a … winner's payment to an outside observer. We find that the first-price sealed-bid auction in which the winner's payment is …

We study the relative performance of the first-price sealed-bid auction and the second-price sealed-bid auction in a … winner's payment to an outside observer. We find that the first-price sealed-bid auction in which the winner's payment is …