We conduct a laboratory experiment where groups of 4 subjects constrained to obtain at most one good each, sequentially … bid for three goods in first and second price auctions. Subjects learn at the beginning of each auction their valuation … for the good and exit the auction once they have obtained one good. We show that, contrary to equilibrium predictions …

First-price auction experiments find often substantial overbidding which is typically related to risk aversion. We … introduce a model where some bidders use constrained linear bids. As with risk aversion this leads to overbidding if valuations … are high, but in contrast to risk aversion the model predicts underbidding if valuations are low. We test this model with …

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 …

We study the behavioral dynamics of limit orders in simultaneous experimental call-auction markets with multiple …

This paper analyzes a multi-auction setting in which informed strategic agents are endowed with heterogeneous noisy …