We experimentally investigate four allocation mechanisms - all based on the fair division approach, with varying bid … elicitation methods and price rules - in terms of their allocation efficiency, distributional effects, and regularities in … the same time, exerts negative externalities on the non-acquiring bidders. Both the bidders'; valuations of the good and …

paid by the winner. We study the impact of these price-externalities on the first-price auction and the second … independently from the identity of the winner. We prove that the first-price auction is not affected by this kind of price-externalities … by the presence of such price-externalities. In any case, in comparison with the first-price auction, the second …

different distributions. Furthermore, we also analyze second-price all-pay auction. Finally, we show that individual minimum … bids could improve the relative revenue performance of first-price all-pay compared to first-price winner-pay auction. …

A human subject laboratory experiment compares the real-time market performance of the two most popular auction formats … configurations and is statistically significant in most treatments. Revenue capture tends to be similar across auction formats in …

A human subject laboratory experiment compares the real-time market performance of the two most popular auction formats … configurations and is statistically significant in most treatments. Revenue capture tends to be similar across auction formats in …

externalities. However, we show that the hold-up problem, which occurs if non-verifiable investments have external effects and …