. Employing an order-balanced design, we use first-price auctions (FPAs) to expose participants to an auction format in which …

cognitive skills. Employing an order-balanced design, we use first-price auctions (FPAs) to expose participants to an auction …

formation efficiency in this setup to see how fast prices become informative about the final auction value. We find that prices … from their competitors' bidding behavior and validates the choice of the agency to implement the auction in the present …

The importance of information transmission and learning is studied in a model of a sequential auction in which bidders … have independent private values. In the course of the auction information about the bidders' values becomes available, as … bidders anticipate the generation of information and take this into account in the first auction. The equilibrium in this …

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 …

. Employing an order-balanced design, we use first-price auctions (FPAs) to expose participants to an auction format in which …

In this paper we consider equilibrium behavior in a Dutch (descending price) auction where the bidders are uninformed … auction. We assume that the information acquisition activity is covert. We characterize the equilibrium behavior in a setting …, the Dutch auction produces more revenue than would a first price auction …

We examine auction design in a context where symmetrically informed buyers and sellers of a good with a common but … number of bidders participate, the sellers tend to employ a first-price auction even though it generates a lower average … revenue than a second-price auction …

In this paper we consider equilibrium behavior in a Dutch (descending price) auction where the bidders are uninformed … auction. We assume that the information acquisition activity is covert. We characterize the equilibrium behavior in a setting …, the Dutch auction produces more revenue than would a first price auction …

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 …