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Divisible-good uniform price auctions: The role of allocation rules and communication among bidders
Sefton, Martin; Zhang, Ping - 2009
We use laboratory experiments to compare allocation rules in uniform price divisible good auctions. 'Standard' and 'uniform' allocation rules admit different types of low-price equilibria, which are eliminated by a 'hybrid' rule. We observe little evidence of revenue differences among the...
Persistent link: https://www.econbiz.de/10010277504
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Divisible-good uniform price auctions : the role of allocation rules and communication among bidders
Sefton, Martin; Zhang, Ping - 2009
that the standard allocation rule is particularly vulnerable to collusive equilibria. -- experiment ; uniform price auction … ; multi-unit auction ; divisible-good auction ; allocation rule ; communication …
Persistent link: https://www.econbiz.de/10003898823
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Divisible-good uniform price auctions: the role of allocation rules and communication among bidders
Sefton, Martin; Zhang, Ping - Centre for Decision Research and Experimental Economics … - 2009
We use laboratory experiments to compare allocation rules in uniform price divisible good auctions. “Standard” and “uniform” allocation rules admit different types of low-price equilibria, which are eliminated by a “hybrid” rule. We observe little evidence of revenue differences...
Persistent link: https://www.econbiz.de/10010552246
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Divisible-good uniform price auctions: the role of allocation rules and communication among bidders
Sefton, Martin; Zhang, Ping - Centre for Decision Research and Experimental Economics … - 2009
We use laboratory experiments to compare allocation rules in uniform price divisible good auctions. “Standard” and “uniform” allocation rules admit different types of low-price equilibria, which are eliminated by a “hybrid” rule. We observe little evidence of revenue differences...
Persistent link: https://www.econbiz.de/10008557033
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A laboratory study of advertising and price competition
Morgan, John; Orzen, Henrik; Sefton, Martin - In: European economic review : EER 50 (2006) 2, pp. 323-347
Persistent link: https://www.econbiz.de/10003280411
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A laboratory study of advertising and price competition
Morgan, John (contributor); Orzen, Henrik (contributor);  … - 2003 - [Elektronische Ressource]
Persistent link: https://www.econbiz.de/10001777064
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Multi-Unit Auctions : A Comparison of Static and Dynamic Mechanisms
Manelli, Alejandro; Sefton, Martin; Wilner, Benjamin S. - 2000
We compare, experimentally, the Vickrey auction and an ascending-price auction recently introduced by Ausubel (1997 … valuations either have a common-value component or are private information. We find that the Ausubel auction is less prone to … overbidding and may yield higher revenue than the Vickrey auction. The gain in revenue seems to be coupled with a loss of …
Persistent link: https://www.econbiz.de/10014172565
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Funding Public Goods with Lotteries : Experimental Evidence
Sefton, Martin; Morgan, John - 2004
Why do individuals participate in charitable gambling and state-run lotteries? In contrast to previous explanations that rely on risk-preference or pure love of gambling motives, we present a model where risk-neutral expected utility maximizers explicitly recognize that lotteries are being used...
Persistent link: https://www.econbiz.de/10014073845
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Who makes a good leader? Social preferences and leading-by-example
Gächter, Simon; Nosenzo, Daniele; Renner, Elke; … - 2008
We examine the effects of social preferences and beliefs about the social preferences of others in a simple leader-follower voluntary contributions game. We find that groups perform best when led by those who are reciprocally oriented. Part of the effect can be explained by a false consensus...
Persistent link: https://www.econbiz.de/10010268939
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Sequential versus simultaneous contributions to public goods: experimental evidence
Gächter, Simon; Nosenzo, Daniele; Renner, Elke; … - 2009
We report an experiment comparing sequential and simultaneous contributions to a public good in a quasi-linear two-person setting (Varian, Journal of Public Economics, 1994). Our findings support the theoretical argument that sequential contributions result in lower overall provision than...
Persistent link: https://www.econbiz.de/10010273783