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In premium auctions, the highest losing bidder receives a reward from the seller. This paper studies the private value …
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This paper reconsiders experimental tests of the English clock auction. We point out why the standard procedure can only use a small subset of all bids, which gives rise to a selection bias. We propose an alternative yet equivalent format that makes all bids visible, and apply it to a 'wallet...
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In procurement auctions, bidders are usually better informed about technical, financial, or legal aspects of the goods …
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