Using clock auctions to dissolve partnership: An experimental study

We experimentally study clock auctions to dissolve partnerships jointly owned by two players. Subjects are found to deviate systematically from the Nash equilibrium. We explain the bidding behaviour in terms of risk aversion and/or non-standard utility theory.

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Year of publication:	2013
Authors:	Qin, Xiangdong ; Zhang, Fangzhou
Published in:	Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 119.2013, 1, p. 55-59
Publisher:	Elsevier
Subject:	Partnership dissolution \| Clock auction \| Risk aversion

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Type of publication:	Article
Classification:	C7 - Game Theory and Bargaining Theory ; C9 - Design of Experiments ; D8 - Information and Uncertainty
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010662398