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Persistent link: https://www.econbiz.de/10005056395
in first-price auctions. We investigate how the amount of underbidding depends on seemingly innocent parameters of the … experimental setup. To structure our data we present and test a theory of constant markdown bids. While a fraction of bidders can …
Persistent link: https://www.econbiz.de/10004970274
The Winner’s Curse (WC) is one of the most robust and persistent deviations fromtheoretical predictions that has been established in experimental economics and claimed to exist in many field environments. There have been many attempts to explain the winner’s curse, such as ignoring...
Persistent link: https://www.econbiz.de/10011131668
such procurement is an English auction followed by an auctioneer’s option to engage in ultimatum bargaining with the … winner. We study behavior and performance in this procurement format using a laboratory experiment. Sellers closely follow … the equilibrium strategy of exiting the auction at their costs and then accepting strictly profitable offers. Buyers …
Persistent link: https://www.econbiz.de/10011140954
, afterwards, subjects take part in a second price auction for the right to (physically) carry out the act of payoff reduction …In a punishment experiment, we separate the demand for punishment in general from the demand to conduct punishment …
Persistent link: https://www.econbiz.de/10011257296
such procurement is an English auction followed by an auctioneer's option to engage in ultimatum bargaining with the winner …. We study behavior and performance in this procurement format using a laboratory experiment. Sellers closely follow the … equilibrium strategy of exiting the auction at their costs and then accepting strictly profitable offers. Buyers generally …
Persistent link: https://www.econbiz.de/10011112148
such procurement is an English auction followed by an auctioneer's option to engage in ultimatum bargaining with the winner …. We study behavior and performance in this procurement format using a laboratory experiment. Sellers closely follow the … equilibrium strategy of exiting the auction at their costs and then accepting strictly profitable offers. Buyers generally …
Persistent link: https://www.econbiz.de/10010892087
In theory, efficiency and compliance levels induced by an emission trading system should not depend on the initial … allocation mechanism for permits in the absence of transaction costs. In a laboratory experiment we investigate this prediction …. While we do not identify an effect of the initial allocation procedure itself (auction vs. grandfathering), we observe …
Persistent link: https://www.econbiz.de/10010866790
men do in the first-price auction, while we find no evidence of a gender difference in bidding or earnings in the second-price … auction. Focusing on the first-price auction, we find that, while the gender gap in bidding and earnings persists over the …We investigate gender differences and menstrual cycle effects in first-price and second-price sealed-bid auctions with …
Persistent link: https://www.econbiz.de/10011049904
elicitation methods and price rules - in terms of their allocation efficiency, distributional effects, and regularities in … diminishes efficiency. One particular allocation mechanism, relying on sparse information elicitation and the first-price rule …, is found to yield economically superior results to both more complex and second-price based allocation mechanisms. …
Persistent link: https://www.econbiz.de/10005090587