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Sequential procurement with contractual and experimental learning
Gur, Yonatan; Macnamara, Gregory; Saban, Daniela - 2019
We study the design of sequential procurement strategies that integrate stochastic and strategic information. We …
Persistent link: https://www.econbiz.de/10012065183
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Learning to bid : an experimental study of bid function adjustments in auctions and fair division games
Güth, Werner; Ivanova-Stenzel, Radosveta; Königstein, … - 1999
We examine learning behavior in auctions and Fair division games with independent private values under two different price rules, first and second price. Participants face these four games repeatedly and submit complete bid functions rather than single bids. This allows us to examine whether...
Persistent link: https://www.econbiz.de/10009581102
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Sequential procurement with contractual and experimental learning
Gur, Yonatan; Macnamara, Gregory; Saban, Daniela - In: Management science : journal of the Institute for … 68 (2022) 4, pp. 2714-2731
Persistent link: https://www.econbiz.de/10013368302
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A war of attrition with experimenting players
Chen, Chia-hui; Ishida, Junichiro - 2017
A standard incomplete-information war of attrition is extended to incorporate experimentation and private learning. We obtain a characterization of all equilibria in this extended setup and use this setup to illuminate a tradeoff between short-run and long-run gains of experimentation. The...
Persistent link: https://www.econbiz.de/10011756011
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Discrimination in Dynamic Procurement Design with Learning-by-Doing
Barbosa, Klenio; Boyer, Pierre - 2021
Discriminatory programs that favor local and small firms in government procurement are common in many countries. This … paper studies the long-run impact of procurement discrimination on market structure and future competition in industries … where learning-by-doing makes incumbent firms more efficient over time. We consider a sequential procurement design problem …
Persistent link: https://www.econbiz.de/10013315854
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Learning by Bidding : Evidence from a Large-Scale Natural Experiment
Hanousek, Jan; Kočenda, Evžen - 2005
-scale natural experiment that by size, incentives, and variation belongs among the largest experiments ever conducted. To detect and …
Persistent link: https://www.econbiz.de/10014061314
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Discrete Rule Learning and the Bidding of the Sexes
Shachat, Jason - 2013
experiment that varies the number of bidders, the auction frame between forward and reverse, and includes the collection of …
Persistent link: https://www.econbiz.de/10013079539
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Are Longer Cascades More Stable?
Kübler, Dorothea; Weizsacker, Georg - 2004
Yes, they are. We consider data from experimental cascade games that were run in different laboratories, and find uniformly that subjects are more willing to follow the crowd, the bigger the crowd is - although the decision makers who are added to the crowd should in theory simply follow suit...
Persistent link: https://www.econbiz.de/10014069612
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Information Acquisition During a Dutch Auction
Miettinen, Paavo - 2010
In this paper we consider equilibrium behavior in a Dutch (descending price) auction where the bidders are uninformed of their valuations with probability 1-q and can acquire information about their valuation at a positive cost during the auction. We assume that the information acquisition...
Persistent link: https://www.econbiz.de/10014196912
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Information Acquisition During a Dutch Auction
Miettinen, Paavo - 2012
In this paper we consider equilibrium behavior in a Dutch (descending price) auction where the bidders are uninformed of their valuations with probability q and can acquire information about their valuation at a positive cost during the auction. We assume that the information acquisition...
Persistent link: https://www.econbiz.de/10013109754