Kasper, Leufkens; Ronald, Peeters; Marc, Vorsatz - In: The B.E. Journal of Theoretical Economics 12 (2012) 1, pp. 1-28
Using laboratory experiments, we compare the performance of first-price and second-price auctions when two stochastically equivalent objects are auctioned sequentially and the winner of the first auction receives a positive synergy in the second auction. According to the risk-neutral subgame...