In this paper we introduce a new type of experiment that combines the advantages of lab and field experiments. The … environment. This guarantees the test of the theoretical predictions in a highly controlled environment and at the same time … opportunity to accept a posted price offer from the seller before the start of the auction. Bringing the field into the lab, we …

-prices, bidders are reluctant to bid above the option price (even though the option is no longer available once an auction has started …). The latter suggests a particular type of anchoring, where bidders use the buy-price to update their expectations about the …

. In the preparation of the auction, two designs involving each a hybrid of an English and a sealed-bid auction were … also compare the results to those with a pure English auction. Both hybrids are similar in efficiency, revenue differences … disappear as bidders get experienced. Compared to the discriminatory format, the pure English auction gives new entrants better …

-cutting ; Public procurement ; First-price auction ; Experiment …

demand shift is reflected in sales prices under alternative auction formats. Price tracking is good for uniform-price, sealed …

, deals with bidders' anticipated regrets from winning and from losing the auction. It exploits the stochastic properties of … the auction format and rationalizes: (i) Nash equilibrium bidding, (ii) (non-)monotone overbidding and (iii) fully cursed …

a procurement auction model where bidders can form bidding rings, and derive the bidding and collusive behavior under no …