We present results from a series of experiments that allow us to measure overbidding and, in particular, underbidding … in first-price auctions. We investigate how the amount of underbidding depends on seemingly innocent parameters of the …

overbidding in auctions. As a workhorse we use the second-price all-pay and the first-price winner-pay auction. Both risk and …In this paper we use an experiment to compare a theory of risk aversion and a theory of spite as an explanation for …. Indeed, we find that spite is a more convincing explanation for bidding behavior for the second-price all-pay auction. Not …

In this paper the sequence of winning bids in the public auction of used cars in New Jersey is examined for the … sale. In a further contrast to many other studies, these data indicate that the prices tend to increase as the auction …

We analyze the welfare consequences of an increase in the commissions charged by the organizer of an auction … of tax incidence in consumer economics. We argue, however, that auction markets deserve a separate treatment. Indeed we …

empirically, about the properties of charity auctions. The small theoretical literature suggests that the all-pay auction should … garner more money than winner-pay auctions. We conduct field experiments to test which sealed bid format, first price, second … price or all-pay raises the most money. Our experiment suggests that both the all-pay and second price formats are dominated …

In a punishment experiment, we separate the demand for punishment in general from the demand to conduct punishment …, afterwards, subjects take part in a second price auction for the right to (physically) carry out the act of payoff reduction …