Showing 1 - 10 of 12
Persistent link: https://www.econbiz.de/10010381468
Persistent link: https://www.econbiz.de/10009572962
Persistent link: https://www.econbiz.de/10011986140
Persistent link: https://www.econbiz.de/10011758822
Persistent link: https://www.econbiz.de/10011567928
We report boundary experiments testing the robustness of price convergence in double auction markets for non-durable goods in which there is extreme earnings inequality at the competitive equilibrium (CE). Following up on a conjecture by Smith (1980), we test whether the well-known equilibrating...
Persistent link: https://www.econbiz.de/10012934581
Persistent link: https://www.econbiz.de/10012437990
Persistent link: https://www.econbiz.de/10012514807
Auction winners sometimes suffer a "bidder's curse", paying more for an item at auction than the fixed price charged for an identical item by other sellers. This seemingly irrational behavior is puzzling because the information necessary to avoid overpaying would appear to be readily available...
Persistent link: https://www.econbiz.de/10012854672
It is common for auctions to feature reserve prices that are kept secret. In auctions with independent private values, there is no clear theoretical explanation for why the reserve price should be disclosed publicly or kept secret. Therefore, we conducted laboratory experiments to investigate...
Persistent link: https://www.econbiz.de/10014351059