Most of the literature on auctions with endogenous entry assumes that, in equilibrium, the number of entrants is … mechanisms, and social welfare. Our results strongly reject the hypothesis of deterministic entry and tend to confirm the … alternative hypothesis that entry is stochastic. …

The theoretical literature on collusion in auctions suggests that the first-price mechanism can deter the formation of … likely to affect the bidding behavior in first-price (but not second-price) auctions. We test experimentally a setup in which … collusion in first-price and second-price auctions. Furthermore, failed collusion attempts distort the bidding behavior in the …

If a government auctions the right to market a good, continuity is likely to be of significant importance. In a … laboratory experiment, we compare the effects of bidders' limited liability in the first-price sealed-bid auction and the English …

activities. We use an economic experiment to examine whether the market efficiency of conservation auctions increases or … decreases with repetition. Theory predicts that repetition facilitates collusion among sellers in procurement auctions, while … effects, the latter has the upper hand; average bids decrease monotonically over the consecutive auctions. Since repetition …

In auctions bidders are usually assumed to have rational expectations with regards to their winning probability … auctions, I show that by decreasing the time between bids and revelation of results, the auctioneer can induce bidders to …

Overbidding in second-price auctions (SPAs) has been shown to be persistent and associated with cognitive ability. We …. Employing an order-balanced design, we use first-price auctions (FPAs) to expose participants to an auction format in which …

-price (English) auctions with independent private values. In a laboratory experiment, we find that individuals overbid more than … teams in first-price auctions and deviate more from bidding their own value in second-price auctions. However we observe no … difference in bidding behavior in English auctions. Based on control variables, we claim that the observed difference can be …

In Buy-It-Now (BIN, hereafter) auctions, sellers can make a "take-it-or-leave-it" price offer (BIN price) prior to an … to auction prices substantially below those expected in second-price auctions. Our results reveal that the observed price … BIN prices to eBay auctions has an enhancing effect: the eBay BIN auction is more efficient and generates significantly …

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 …

Overbidding in sealed-bid second-price auctions (SPAs) has been shown to be persistent and associated with cognitive … cognitive skills. Employing an order-balanced design, we use first-price auctions (FPAs) to expose participants to an auction …