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Heterogeneous bids in auctions with rational and markdown bidderstheory and experiment

Kirchkamp, Oliver; Reiss, J. Philipp - 2008

We present results from a series of experiments that allow us to measure overbidding and, in particular, underbidding in first-price auctions. We investigate how the amount of underbidding depends on seemingly innocent parameters of the experimental setup. To structure our data we present and...

Persistent link: https://www.econbiz.de/10010276381

Online ad auctions: An experiment

McLaughlin, Kevin; Friedman, Daniel - 2016

A human subject laboratory experiment compares the real-time market performance of the two most popular auction formats … configurations and is statistically significant in most treatments. Revenue capture tends to be similar across auction formats in …

Persistent link: https://www.econbiz.de/10011438427

Optimal Cost Overruns: Procurement Auctions and Renegotiation

Herweg, Fabian; Schwarz, Marco A. - 2016

a simple design initially enhances competition in the auction. Moreover, the procurer cannot benefit from using a multi …-dimensional auction, as the optimal scoring rule depends only on the price. …

Persistent link: https://www.econbiz.de/10011451448

Discriminatory versus uniform-price auctions

Monostori, Zoltán - 2014

The purpose of this paper is to compare the two auction techniques (discriminatory and uniform-price auctions) most … auction. Theoretical models arrive at different rankings for expected revenue; however, they do reveal the relationship … between the bids submitted and the auction technique. These results are confirmed both by 'laborator' experiments and the …

Persistent link: https://www.econbiz.de/10011481584

A small volume reduction that melts down the market: Auctions with endogenous rationing

Ehrhart, Karl-Martin; Hanke, Ann-Katrin; Ott, Marion - 2020

Auctions with endogenous rationing have been introduced to stimulate competition. Such (procurement) auctions reduce the volume put out to tender when competition is low. This paper finds a strong negative effect of endogenous rationing on participation when bid-preparation is costly,...

Persistent link: https://www.econbiz.de/10012196431

Complementary bidding and the collusive arrangement: Evidence from an antitrust investigation

Clark, Robert; Coviello, Decio; de Leverano, Adriano - 2020

A number of recent papers have proposed that a pattern of isolated winning bids may be associated with collusion. In contrast, others have suggested that bid clustering, especially of the two lowest bids, is indicative of collusion. In this paper, we present evidence from an actual procurement...

Persistent link: https://www.econbiz.de/10012300773

Public procurement and supplier job creation: Insights from auctions

Srhoj, Stjepan; Dragojević, Melko - 2021

Public procurement contracts (PPCs) of goods, services and works is about one tenth of global gross domestic product. Much research has been conducted on government spending and its aggregate effects, but evidence is scarce at the micro-level. This study exploits sealed-bid PPC auctions of...

Persistent link: https://www.econbiz.de/10012627200