Onderstal, Sander; Englmaier, Florian; Guillén, Pablo; … - 2004
called the chopstick auction' in which bidders are confronted with the exposure problem. We analyze the chopstick auction … with incomplete information both in theory and in a laboratory experiment. In theory, the chopstick auction has an … efficient equilibrium and is revenue equivalent with the second-price sealed-bid auction in which the exposure problem is not …