-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 …

independent values across bidders. The values are assumed to be perfectly persistent over time.We analyze the first-price auction … disclosure regime, in which each bidder only learns privately whether he won or lost the auction at the end of each round. In … equilibrium, the winner of the initial auction lowers his bids over time, while losers keep their bids constant, in anticipation …

We analyze the rationale for hiding information in open auction formats. In particular, we focus on the incentives for …

competitively in a limited number of auctions only, and we discuss how our results can help to improve oil and gas tract auction …

bidders account for this trade-off, using a sequential procurement auction with private cost information and varying …

We study the relative performance of the first-price sealed-bid auction and the second-price sealed-bid auction in a … winner's payment to an outside observer. We find that the first-price sealed-bid auction in which the winner's payment is …