This paper reports results of an experimental study of uniform multi-unit auctions in an environment of publicly known common values. We find that the bidding behavior exhibits two clear regularities: agents consistently play weakly dominated strategies by overbidding on the first unit and have...

When economic agents decide their optimal environmental behavior, they have to take into account non continuos evolutionary trends and irreversible changes characterising environmental phenomena. Given the still non perfect biophysical and economic knowledge, decisions have to be taken in an...