Auctions often involve goods exhibiting a common knowledge ex-post risk that is independent of buyers' private values … bidding with data from the field seems almost impossible. We conduct experimental first-price auctions that allow us to …

Winning bidders in online auctions frequently fail to complete the transaction. Because enforcing bids usually is too … else equal, the availability of second-chance offers reduces amounts bid in auctions where there is a probability that a … to the idea of creating a deterrent against such behavior. Actual bidding in experimental auctions support these …

-determined procurement auctions with moral hazard in which buyers can select a bidder based on prices and all other information available … is infeasible as it is often the case in real auctions, buyers prefer bidders whose argu-ments reduce social distance …