their auction end at the evening, when many potential buyers may be online. …

, deals with bidders' anticipated regrets from winning and from losing the auction. It exploits the stochastic properties of … the auction format and rationalizes: (i) Nash equilibrium bidding, (ii) (non-)monotone overbidding and (iii) fully cursed …

externality-robust implementation. In particular, we derive the externality-robust counterpart of the second-price auction. Our … experiments replicate the earlier finding of overbidding in the second-price auction, but we find that average bids equal value in … the externality-robust auction. Our data also reveal that both auctions produce the same level of efficiency, suggesting …

An auction is externality-robust if unilateral deviations from equilibrium leave the other bidders' payoffs unaffected … externalities due to spiteful preferences, which have been used to explain overbidding in the second-price auction (SPA). Another … example are cross-shareholdings between companies that compete in an auction. We derive an auction that coincides with the SPA …

show that the complementarity result still holds, yet the seller now fully reveals the popular product attributes in the …

question of the value added of letting the sourcing process consist of both an auction and a negotiation stage, theoretically … auction is beneficial to the buyer compared to no communication and ex-ante communication. In a setting where the buyer and …

-price auction. Before the contest, a fixed number of innovators is selected in an entry auction, in order to address the adverse …

externality-robust implementation. In particular, we derive the externality-robust counterpart of the second-price auction. Our … experiments replicate the earlier finding of overbidding in the second-price auction, but we find that average bids equal value in … the externality-robust auction. Our data also reveal that both auctions produce the same level of efficiency, suggesting …

) formulation of the "mineral rights" auction. The restriction we consider is that each player's expected payoffs satisfy the … mineral rights auction games and other games where "winning" creates a discontinuity in payoffs, the existence result can be … values; a class of pricing games with incomplete information about costs; a class of all-pay auction games; and a class of …

between the expected revenue from the optimal mechanism and the efficient auction. Sequential procedures (to which many … negotiation processes belong) do less well, and, in fact, often worse than simply holding an efficient auction. In each case, we …