-price dimensions after the auction. Both auctions theoretically implement the surplus maximizing mechanism. Our experiment confirms …

-price dimensions after the auction. Both auctions theoretically implement the surplus maximizing mechanism. Our experiment confirms …

the suppliers to deal with. Reverse auctions do not have this flexibility, because it is the auction rules and not the … demand from the auction market increase competition and make buyers better off as long as suppliers are willing to accept non … expected profit. Our theory relies on two behavioral assumptions: (1) bidders in a multi-unit uniform-price reverse auction …

This paper reconsiders experimental tests of the English clock auction. We point out why the standard procedure can … that makes all bids visible, and apply it to a 'wallet auction' experiment. Finally, we test the theory against various …

as equilibrium phenomena of the ascending auction. In a series of experiments, we compare its performance to that of the … discriminatory auction. Strategic demand reduction is quite prevalent in the ascending auction even when entry by the newcomer … imposes a (large) negative externality on incumbents. As a result, the ascending auction performs worse than the …

as equilibrium phenomena of the ascending auction. In a series of experiments, we compare its performance to that of the … discriminatory auction. Strategic demand reduction is quite prevalent in the ascending auction even when entry by the newcomer … imposes a (large) negative externality on incumbents. As a result, the ascending auction performs worse than the …

auction formats that make bidding difficult and risky in different ways. We find that measures of `difficulty' provide a …

We experimentally examine the attributes of two complex multi-unit auction mechanisms in the presence of an opportunity … auction formats. Bidders are able to split the auctioned goods in a cheap-talk collusive agreement, which results in a better … allocation compared to the auction formats without the communication channel. Combinatorial bidding on packages makes the …

firms' risk attitudes and the fact that future market prof-its are uncertain so that winning an auction is like winning a …