. Employing an order-balanced design, we use first-price auctions (FPAs) to expose participants to an auction format in which …

cognitive skills. Employing an order-balanced design, we use first-price auctions (FPAs) to expose participants to an auction …

In this paper, we consider a multi-unit Dutch auction over the Internet where auctioneer gradually decrements per unit … price of the item during the course of the auction. We investigate an optimal price control problem of the auctioneer, that … analogous multi-unit pay-your-bid auction in a discrete setting and provide a characterization of mixed strategy equilibrium …

mechanism when the subjects received the endowment two weeks before the experiment day. Each auction was repeated for 20 rounds … received a cash endowment two weeks after the experiment day and had to use their own money to pay the experimental loss (if … any) on the experiment day. We compared the effect of delayed payment on overbidding in the induced value SPAs with the …

Faster trading improves liquidity in periodic call auction markets, in contrast to continuous-timemarkets. We build a … the likelihood that a single HFT arrives inany given auction and subsequently acts as a monopolist on information. Higher … improving liquidity. We find that faster trading and longer auction intervalsare substitute instruments to reduce bid …

formation efficiency in this setup to see how fast prices become informative about the final auction value. We find that prices … from their competitors' bidding behavior and validates the choice of the agency to implement the auction in the present …