Drawing on the real-options theory we analyse bidding behaviour in a sealed-bid-first-score procurement auction where … suppliers, facing variable production costs, must simultaneously report the contract price and the cost level at which they …

calculate the revenue in large asymmetric first-price, second-price, and optimal auctions to O(1/n^3) accuracy, where n is the … number of players. These calculations show that the revenue differences among these three auction mechanisms scale as ε2/n3 …

This paper studies the impact of human subjects in the role of a seller on bidding in experimental 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 bias upwards the …

In this study, we designed a delayed payment mechanism in laboratory second price auctions (SPAs) under which subjects … mechanism when the subjects received the endowment two weeks before the experiment day. Each auction was repeated for 20 rounds … subjects gained experience over repeated auction rounds, implying a possible learning effect and suggesting that “bounded …

modify the single-unit Vickrey auction to incite deviations from the designated-winner scenario and thus undermine collusion …

This online appendix contains the plots and supplemental descriptions for "Are Estimates of Asymmetric First-Price … Auctions Credible? Semi- & Nonparametric Analyses."The paper "Are Estimates of Asymmetric First-Price Auctions Credible? Semi …

' bid. Equilibrium behavior in the first-price auction is mostly unaffected but there are multiple equilibria in the second-price … auction. Consequently, comparative statics across price rules are equivocal. Experimentally, leaks in the first-price auction …In first- and second-price private value auctions with sequential bidding, second movers may discover the first movers …

signals take binary values. Since signals are correlated, high signals indicate a high degree of competition in the auction …. With two bidders, the effect on rent extraction dominates, and all-pay auction outperforms standard auctions in terms of …