better off under the dynamic mechanism relative to a Vickrey-like auction because the intermediaries are more able to exploit …-like auction. Finally, I show that in large markets the dynamic mechanism and Vickrey-like auction have the same expected total …

aggregate dispersed information. Another reason behind the frequent utilization of open auction formats may be that they … activate revenue enhancing biases. In an experiment, we compare three auctions that differ in how much information is revealed … and in the potential activation of behavioral biases: (i) the ascending Vickrey auction, a closed format; and two open …

rationality. We introduce a double clock auction for a homogeneous good market with multidimensional private information and … dominant strategy equilibrium. Under a weak dependence and an identifiability condition, our double clock auction is also …

' WTP using a non-hypothetical experimental auction for 'blood orange' [known as Arancia Rossa di Sicilia PGI (Protected …

We study when equilibrium prices can aggregate information in an auction market with a large population of traders. Our …

We analyze a divisible good uniform‐price auction that features two groups, each with a finite number of identical …

This paper will review important topics on the subject of auction theory and mechanism design, these include … tells us that if buyers and sellers both have private information full efficiency is impossible, however Vickrey auction … (single unit auction) will be efficient i.e. will put the goods in the hands of the buyers that value them most. However, the …

the approach in second-price and first-price auctions, we establish our main result that there is no efficient auction in …

that differ in the elicitation technique: secondprice Vickrey auction and discrete choice experiment. For each technique … benefits of policy interventions. The paper reports the results of an experiment that combines induced value and home …-grown value elicitation procedures. Home-grown values are elicited for a public food policy. The experiment has two treatments …