Implementing the Efficient Auction: Initial Results from the Lab

The efficient auction is designed to induce truthful bidding for bidders with affiliated values. Herein we implement the auction in the lab, and observe that inexperienced people can bid systematically in this more complex environment, albeit yielding a flatter bid function than the truthful.

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Year of publication:	2003-12-15
Authors:	Shogren, Jason ; Margolis, Michael
Subject:	auction \| affiliation \| experiments \| valuation

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Extent:	application/pdf
Series:	Discussion Papers.
Type of publication:	Book / Working Paper
Language:	English
Classification:	C9 - Design of Experiments ; D44 - Auctions
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005232914