Hu, Youxin; Kagel, John; Xu, Xiaoshu; Ye, Lixin - Volkswirtschaftliche Fakultät, … - 2012
. We find substantial, though incomplete, free riding in the clock auction. In first-price auctions, regular bidders bid … more aggressively than the "entrant" and both bid higher than in auctions with no externality. Predictions regarding … revenue, efficiency, and successful entry between the two auctions are satisfied. …