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perform better than the Vickrey auction. The proportions of efficient allocations are similar in both types of auctions, but …-selecting auction. We trace the causes of the performance differences back to patterns in bids. The core-selecting auctions provide …. In the experiment, bidders react in the predicted direction to these incentives, though less pronouncedly than predicted. …
Persistent link: https://www.econbiz.de/10011815479
auction with an additional buyer is conducted. The theoretical model predicts that with risk neutral agents all sales take … place in the auction rendering the negotiation prior to the auction obsolete. An experimental test of the model provides …
Persistent link: https://www.econbiz.de/10010365906
auction. We analyse experimentally how eBay sellers set BIN prices and whether they benefit from offering them. Using the real … eBay environment in the laboratory, we find that the eBay auction format supports deviations from truthful bidding leading … to auction prices substantially below those expected in second-price auctions. Our results reveal that the observed price …
Persistent link: https://www.econbiz.de/10011902715
does not effect their price decisions. Compared to an eBay auction without a BIN-price, the BIN-auction is more efficient …
Persistent link: https://www.econbiz.de/10012309640
In Buy-It-Now auctions, sellers can post a take-it-or-leave-it price offer prior to an auction. While the literature …
Persistent link: https://www.econbiz.de/10014477420
We analyze pre and post-task confidence in an experiment in which subjects bid in multi-unit common value auctions … performance. Although the change in pre-experiment confidence from session one to session two is close to zero, the dispersion in … with neutral or low confidence. Subjects with high initial confidence also base their perception of post-experiment …
Persistent link: https://www.econbiz.de/10013090267
We study the relative performance of the first-price sealed-bid auction and the second-price sealed-bid auction in a … laboratory experiment where bidders can signal information through their bidding behavior to an outside observer. We consider two … winner's payment to an outside observer. We find that the first-price sealed-bid auction in which the winner's payment is …
Persistent link: https://www.econbiz.de/10012953306
We study the relative performance of the first-price sealed-bid auction and the second-price sealed-bid auction in a … laboratory experiment where bidders can signal information through their bidding behavior to an outside observer. We consider two … winner's payment to an outside observer. We find that the first-price sealed-bid auction in which the winner's payment is …
Persistent link: https://www.econbiz.de/10012953920
all-pay sealed-bid auction in a laboratory experiment where bidders can signal information through their bidding behaviour …We study the relative performance of the first-price sealed-bid auction, the second-price sealed-bid auction, and the …-bid auction in which the bidders’ payments are revealed outperforms the other mechanisms in terms of revenue, while this mechanism …
Persistent link: https://www.econbiz.de/10013231698
all-pay sealed-bid auction in a laboratory experiment where bidders can signal information through their bidding behaviour …We study the relative performance of the first-price sealed-bid auction, the second-price sealed-bid auction, and the …-bid auction in which the bidders’ payments are revealed outperforms the other mechanisms in terms of revenue, while this mechanism …
Persistent link: https://www.econbiz.de/10012500904