trade. Those auctions come in a variety of different formats, such as the Buy-It-Now auction format on eBay, that allows … sellers to post prices at which buyers can purchase a good prior to the auction. Even though, buyer behavior is well studied … auction market (the eBay platform and eBay traders) with the techniques of lab experiments. We find a striking link between …

We analyze the rationale for hiding information in open auction formats. In particular, we focus on the incentives for …

bidders account for this trade-off, using a sequential procurement auction with private cost information and varying …

information after the auction, while it may be optimal to do so before. These results differ from the case where the value of the … outside option arises exogenously in the post-auction market. Non-transparent auctions are preferred by the auctioneer if: (i …

We study when equilibrium prices can aggregate information in an auction market with a large population of traders. Our …

aggregate dispersed information. Another reason behind the frequent utilization of open auction formats may be that they … and in the potential activation of behavioral biases: (i) the ascending Vickrey auction, a closed format; and two open … formats, (ii) the Japanese-English auction and (iii) the Oral Outcry auction. Even though bidders react to information …