employment office or head hunter. In a centralised descending-bid, multi-item procurement auction, workers submitwage-bids for …

This paper reconsiders experimental tests of the English clock auction. We point out why the standard procedure can … that makes all bids visible, and apply it to a 'wallet auction' experiment. Finally, we test the theory against various …

externalities due to spiteful preferences, which have been used to explain overbidding in the second-price auction (SPA). Another … (ERA) is a first-price auction in which truthful bidding is encouraged by bonus payments. We test the robustness property …An auction is externality-robust if unilateral deviations from equilibrium leave the other bidders' payoffs unaffected …

A human subject laboratory experiment compares the real-time market performance of the two most popular auction formats … for online ad space, Vickrey- Clarke-Groves (VCG) and Generalized Second Price (GSP). Theoretical predictions made in … configurations and is statistically significant in most treatments. Revenue capture tends to be similar across auction formats in …

examine the effect of increased competition on auction performance: We find that increased competition reduced bidder surplus … aggressive bidding. Counterfactuals establish that as competition increases, concerns regarding auction format play a smaller …

Buyer-seller networks where price is determined by an ascending-bid auction are important in many economic examples … the seller does not expect to receive a high price in the auction. … sellers are better off not participating in the auction. We consider what happens if sellers can make a take it or leave it …

-prices, bidders are reluctant to bid above the option price (even though the option is no longer available once an auction has started …With a laboratory experiment, we study the impact of buy-options and the corresponding buy-price on revenues and …). The latter suggests a particular type of anchoring, where bidders use the buy-price to update their expectations about the …

second-price auctions. Overbidding is a robust finding in second- price auctions, and spite among bidders has been advanced … as an explanation. If spite extends to the seller, then the absence of human sellers who receive the auction revenue may … seller on overbidding. We conclude that overbidding is not an artefact of the standard experimental implementation of second-price …

externality-robust implementation. In particular, we derive the externality-robust counterpart of the second-price auction. Our … experiments replicate the earlier finding of overbidding in the second-price auction, but we find that average bids equal value in … players' monetary payoffs. One example is externalities due to spite, which has been used to explain overbidding in second-price …

Canadian province of Alberta has on the price producers pay for the right to extract oil. We exploit a regression discontinuity … design to evaluate how prices differ along regulation boundaries that constrain resource development. The auction format and …