We study the relative performance of the first-price sealed-bid auction and the second-price sealed-bid auction in a … winner's payment to an outside observer. We find that the first-price sealed-bid auction in which the winner's payment is …

We study the relative performance of the first‐price sealed‐bid auction and the second-price sealed‐bid auction in a … reveals the winner’s payment to an outside observer. We find that the first‐price sealed‐bid auction in which the winner …

We study the relative performance of the first-price sealed-bid auction, the second-price sealed-bid auction, and the … all-pay sealed-bid auction in a laboratory experiment where bidders can signal information through their bidding behaviour …-bid auction in which the bidders’ payments are revealed outperforms the other mechanisms in terms of revenue, while this mechanism …

first-price auction which do not have any minimum price. We find that winning prices of this new institution (i) coincide … with the ones of the standard first-price auction and are close to the production cost under our identical cost condition …, and (ii) are higher than the ones of the standard first-price auction and diverge from the lowest production cost under …

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 …

English premium auction (EPA) for different risk attitudes of bidders. We explicitly derive the symmetric equilibrium for … bidders with CARA utilities and conduct an experimental study to test the theoretical predictions. In our experiment, subjects …

We examine bidding behaviour of individuals and teams in an experimental auction resembling UMTS-license auctions. Even … relied on individual bidders. Our results show that teams stay on average longer in an (ascending sealed-bid English) auction … winner's curse. The auction's efficiency is nevertheless higher with teams, since the bidders with the highest valuation are …

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 …

describes the data. Second, we test the auction design of the electricity markets experimentally. The current auction design is … a static bidding framework. We find that if the auction were to operate under a sequential bidding auction, all market …