pricing methods. A clock auction stands for the "Dutch auction". A sealed-bid uniform price auction represents "book building …

This paper exploits a large-size auction experiment conducted by two Chinese Government Treasury security issuers … alternating auction-rule market experiment, we find that auction outcome yield rates of the two auction formats are not … uniform or discriminatory auction mechanisms. Based on the outcomes of more than 300 Treasury securities issued through an …

car license auction, many car licenses are sold but each participant can only bid for one license. We examine the … theoretical properties of three auction formats: Shanghai auction, Guangzhou auction, and Singapore auction. Our main results are … that (1) No equilibrium of the Shanghai auction can guarantee an efficient allocation, (2) the Singapore auction allocates …

results have important implications for the design of IPO auctions. -- IPO ; uniform price auction ; divisible goods ; share …

In this paper, we propose and construct a direct measure of investors' divergence of opinionbased on auction bids data …

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. …

experiment, we compare four different second-price auction formats for procuring a good. The four formats are a sealed … procurement auction formats can take advantage of bidders' willingness-to-pay-willingness-to-accept disparity. In a laboratory …-bid auction and three di erent descending-clock auctions. We assume that a bidder's willingness-to-accept exceeds his willingness …

Our study compares individual and team bidding in standard auction formats: first-price, second-price and ascending …-price (English) auctions with independent private values. In a laboratory experiment, we find that individuals overbid more than …