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Auctions and leaks : a theoretical and experimental investigation
Fischer, Sven Heiko; Güth, Werner; Kaplan, Todd R.; … - 2014 - This version: November 5, 2014
first movers bids. There is a unique equilibrium in the first-price auction and multiple equilibria in the second …-price auction. Consequently, comparative statics across price rules are equivocal. We experimentally find that in the first …-price auction, leaks benefit second movers but harm first movers and sellers. Low to medium probabilities of leak eliminate the …
Persistent link: https://www.econbiz.de/10010433909
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An Experimental Study of Signaling in Auctions with a Flexible Reserve Price
Khoroshilov, Yuri - 2017
This paper presents the results of an experimental study of preemptive jump bidding in English auctions with a flexible reserve price. While one of the possible explanations for jump bidding is based on signaling arguments, the ability of the seller to adjust his decision to accept an offer...
Persistent link: https://www.econbiz.de/10012961250
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Learning and the Possibility of Losing Own Money Reduce Overbidding : Delayed Payment in Experimental Auctions
Zhang, Yu Yvette - 2017
mechanism when the subjects received the endowment two weeks before the experiment day. Each auction was repeated for 20 rounds … received a cash endowment two weeks after the experiment day and had to use their own money to pay the experimental loss (if … any) on the experiment day. We compared the effect of delayed payment on overbidding in the induced value SPAs with the …
Persistent link: https://www.econbiz.de/10012971336
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Reputation and Mechanism Choice in Procurement Auctions - An Experiment
Heinrich, Timo; Brosig-Koch, Jeannette - 2011
prefer the buyer-determined auction over the price-based auction, while only half of the bidders do so. A more detailed …
Persistent link: https://www.econbiz.de/10014182496
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On the Pricing Rule in Electronic Auctions
Hickman, Brent Richard - 2014
Researchers and experts have typically viewed electronic auctions (such as those implemented by eBay, Amazon, and Yahoo!) as either oral, ascending-price (English) auctions or second-price, sealed-bid (Vickrey) auctions. I show that significant differences exist, both theoretical and practical,...
Persistent link: https://www.econbiz.de/10014214033
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Experiments on Auction Valuation and Endogenous Entry
Engelbrecht-Wiggans, Richard; Katok, Elena - 2005
We present results of several experiments that deal with endogenous entry in auctions and auction valuation. One … compare different auction mechanisms. This highlights the need for new experimental procedures to be used for testing theories … that involve endogenous auction entry in the laboratory …
Persistent link: https://www.econbiz.de/10014066618
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Asymmetric information in auctions : are resellers better appraisers?
Koptyug, Nikita - 2016
heterogeneity in the dispersion of private value components. I use the asymmetric ascending auction model of Hong and Shum (2003) to …
Persistent link: https://www.econbiz.de/10011430656
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An externality-robust auction : theory and experimental evidence
Bartling, Björn; Netzer, Nick - 2014 - This version: April 2014
An auction is externality-robust if unilateral deviations from equilibrium leave the other bidders' payoffs unaffected … externalities due to spiteful preferences, which have been used to explain overbidding in the second-price auction (SPA). Another … example are cross-shareholdings between companies that compete in an auction. We derive an auction that coincides with the SPA …
Persistent link: https://www.econbiz.de/10010360336
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An externality-robust auction : theory and experimental evidence
Bartling, Björn; Netzer, Nick - 2014 - This version: April 2014, First version: November 2013
An auction is externality-robust if unilateral deviations from equilibrium leave the other bidders' payoffs unaffected … externalities due to spiteful preferences, which have been used to explain overbidding in the second-price auction (SPA). Another … example are cross-shareholdings between companies that compete in an auction. We derive an auction that coincides with the SPA …
Persistent link: https://www.econbiz.de/10010347030
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Does the absence of human sellers bias bidding behavior in auction experiments?
Bartling, Björn; Gesche, Tobias; Netzer, Nick - 2016
as an explanation. If spite extends to the seller, then the absence of human sellers who receive the auction revenue may …
Persistent link: https://www.econbiz.de/10011456510