We investigate experimentally whether emotions affect bidding behavior in a firstprice auction. To induce emotions, we … confront subjects after a first auction series with apositive or negative random economic shock. We then explore the relation … between emotions andbidding behavior in a second auction series. Our main results are: (i) the economic shock has asubstantial …

This paper presents the results of an experimental study of takeover auctions with toeholds. Consistent with the theory …

. Employing an order-balanced design, we use first-price auctions (FPAs) to expose participants to an auction format in which …Overbidding in second-price auctions (SPAs) has been shown to be persistent and associated with cognitive ability. We …

In first- and second-price private value auctions with sequential bidding, second movers may discover the first movers …’ bid. Equilibrium behavior in the first-price auction is mostly unaffected but there are multiple equilibria in the second …- price auction. Consequently, comparative statics across price rules are equivocal. Experimentally, leaks in the first- price …

cognitive skills. Employing an order-balanced design, we use first-price auctions (FPAs) to expose participants to an auction …Overbidding in sealed-bid second-price auctions (SPAs) has been shown to be persistent and associated with cognitive …