Englmaier, Florian; Guillen, Pablo; Llorente, Loreto; … - CESifo - 2006
Multi-unit auctions are sometimes plagued by the so-called exposure problem. In this paper, we analyze a simple game … called the ‘chopstick auction’ in which bidders are confronted with the exposure problem. We do so both in theory and in a …-price sealed-bid auction in which the exposure problem is not present. In the experiment, however, we find that the chopstick …