We use an experiment to study whether market competition can reduce anomalous behaviour in games. In different … treatments, we employ two alternative mechanisms, the random mechanism and the auction mechanism, to allocate the participation … rights to the red hat puzzle game, a well-known logical reasoning problem. Compared to the random mechanism, the auction …

The objects for sale in most auctions possess both private and common value elements. This salient feature has not yet …, which raises efficiency and seller's revenues. Efficiency and revenues are also higher when more bidders enter 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 …

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 …

Internet auctions, such as those on eBay, are known for multiple bidding and sniping. Buyers send bids in the closing … seconds of an auction, knowing that bids arriving after the closure of the auction are not counted. They also bid several … times at the same auction. We model Internet auction as a dynamic multi-unit auction. This let us explain the rationality of …

.S. Forest Service timber auctions, we document a set of systematic effects of auction format: sealed bid auctions attract more …We study entry and bidding patterns in sealed bid and open auctions with heterogeneous bidders. Using data from U … extends the theory of private value auctions with heterogeneous bidders to capture participation decisions, that can account …

We study auctions in which the number of potential bidders is large, such as in Internet auctions. With numerous … bidders, the expected revenue and the optimal bid function in a first price auction result in complicated expressions, except … Internet auctions. …

This paper investigates regulation by auctions of private supply of congestible infrastructures in two networks …. The effects of an auction depend on what the bidders compete. With a transfer auction, the bidders compete on how much … money they transfer to the government. This auction leads to the same outcome as the game without an auction (for a given …

In most wholesale electricity markets generators must submit step-function offers of supply to a uniform price auction …

and organizational challenges. This work provides an auction-based coordination mechanism that enables the allocation and …