. Employing an order-balanced design, we use first-price auctions (FPAs) to expose participants to an auction format in which …

cognitive skills. Employing an order-balanced design, we use first-price auctions (FPAs) to expose participants to an auction …

trade. Those auctions come in a variety of different formats, such as the Buy-It-Now auction format on eBay, that allows … sellers to post prices at which buyers can purchase a good prior to the auction. Even though, buyer behavior is well studied … auction market (the eBay platform and eBay traders) with the techniques of lab experiments. We find a striking link between …

auction with an additional buyer is conducted. The theoretical model predicts that with risk neutral agents all sales take … place in the auction rendering the negotiation prior to the auction obsolete. An experimental test of the model provides …

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

In Buy-It-Now auctions, sellers can post a take-it-or-leave-it price offer prior to an auction. While the literature …

' bid. Equilibrium behavior in the first-price auction is mostly unaffected but there are multiple equilibria in the second …- price auction. Consequently, comparative statics across price rules are equivocal. Experimentally, leaks in the first- price … auction favor second movers but harm first movers and sellers, as theoretically predicted. Low to medium leak probabilities …