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prices and highest realized gains from trade. Our experiment provides new evidence, from markets with very asymmetrically …
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We investigate experimentally on eBay how sellers set prices in "Buy-It-Now" (BIN) auctions. We find that the eBay format leads to prices substantially below those expected in second-price auctions. Moreover, our results reveal that the information available on eBay about buyer experience and...
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This paper analyzes volatility spillovers in multivariate GARCH-type models. We show that the cross-effects between the conditional variances determine the persistence of the transmitted volatility innovations. In particular, the influence of a foreign volatility innovation on a conditional...
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in a laboratory experiment. Our data confirm that placing bid-caps and using favorable tie-breaking rules significantly … diminishes discouragement in weaker contestants. The impact on revenue is more intricate. In contrast to theory, a strict bid …-cap does not increase revenue, but a mild bid-cap can increase revenue even when not predicted by theory. Our data also show …
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