In spring 2000, the British government auctioned off licences for Third Generation mobile telecommunications services. In the preparation of the auction, two designs involving each a hybrid of an English and a sealed-bid auction were suggested by the government: a discriminatory and a uniform...

We propose a novel approach to the modelling of second-price Maximum-Value auctions that assumes no belief about others' behavior and no expected profit maximization. This individual decision-making model, naïve Impulse Balance Equilibrium or nIBE, deals with bidders' anticipated regrets from...

We use laboratory data from first-price auctions and manipulate the quantity and the quality of information available to assess the robustness of structural inferences (i.e., estimates, revenue predictions and optimal reserve price recommendations). We show that the latter are sensitive to the...