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 …

With a laboratory experiment, we study the impact of buy-options and the corresponding buy-price on revenues and …-prices, bidders are reluctant to bid above the option price (even though the option is no longer available once an auction has started …

overbid more than higher value bidders, and they overbid more frequently in the second price auction than in the ascending … price auction. Overall, the lower value bidder submits bids that exceed value about half the time. These patterns are not …

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

We analyze choices of sellers, each setting a reserve price in a laboratory first price auction with automated …

aggregate dispersed information. Another reason behind the frequent utilization of open auction formats may be that they … activate revenue enhancing biases. In an experiment, we compare three auctions that differ in how much information is revealed … and in the potential activation of behavioral biases: (i) the ascending Vickrey auction, a closed format; and two open …

that differ in the elicitation technique: secondprice Vickrey auction and discrete choice experiment. For each technique … benefits of policy interventions. The paper reports the results of an experiment that combines induced value and home …-grown value elicitation procedures. Home-grown values are elicited for a public food policy. The experiment has two treatments …