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Sequential Auctions with Capacity Constraints: an Experimental Investigation

Brocas, Isabelle; Carrillo, Juan D; Otamendi, F. Javier - C.E.P.R. Discussion Papers - 2015

bid for 3 goods in first and second price auctions. Subjects learn at the beginning of each auction their valuation for … the good and exit the auction once they have obtained one good. We show that, contrary to equilibrium predictions … exit the auction, leaving those who play closer to theoretical predictions to bid for the third good. Support for this …

Persistent link: https://www.econbiz.de/10011145460

The nature of information and its effect on bidding behavior: laboratory evidence in a common value auction

Brocas, Isabelle; Carrillo, Juan D; Castro, Manuel - C.E.P.R. Discussion Papers - 2010

We study in the laboratory a series of first price sealed bid auctions of a common value good. Bidders face three types of information: private information, public information and common uncertainty. Auctions are characterized by the relative size of these three information components. According...

Persistent link: https://www.econbiz.de/10008468529

Second-price common value auctions with uncertainty, private and public information: experimental evidence

Brocas, Isabelle; Carrillo, Juan D; Castro, Manuel - C.E.P.R. Discussion Papers - 2015

We conduct a laboratory experiment of second-price sealed bid auctions of a common value good with two bidders. Bidders face three different types of information: common uncertainty (unknown information), private information (known by one bidder) and public information (known by both bidders),...

Persistent link: https://www.econbiz.de/10011165658

Energy and Climate Change in China

Carraro, Carlo; Massetti, Emanuele - C.E.P.R. Discussion Papers - 2012

This paper examines future energy and emissions scenarios in China generated by the Integrated Assessment Model WITCH. A Business-as-Usual scenario is compared with five scenarios in which Greenhouse Gases emissions are taxed, at different levels. The elasticity of China’s emissions is...

Persistent link: https://www.econbiz.de/10011084331

What is the Top Priority on Climate Change?

Klemperer, Paul - C.E.P.R. Discussion Papers - 2009

What should be the West's top priority for climate-change policy? This article is a revised and updated version of my talk to the Potsdam Global Sustainability Symposium (which drafted the Potsdam Declaration presented to the 2007 UN Climate Change Conference in Bali).

Persistent link: https://www.econbiz.de/10005123837

Are Compact Cities Environmentally Friendly?

Gaigné, Carl; Riou, Stéphane; Thisse, Jacques-François - C.E.P.R. Discussion Papers - 2011

There is a large consensus among international institutions and national governments to favor urban-containment policies - the compact city - as a way to improve the ecological performance of the urban system. This approach overlooks a fundamental fact: what matters for the ecological outcome of...

Persistent link: https://www.econbiz.de/10008867493

Properties of Scoring Auctions

Asker, John; Cantillon, Estelle - C.E.P.R. Discussion Papers - 2004

This Paper studies scoring auctions, a procedure commonly used to buy differentiated products: suppliers submit offers on all dimensions of the good (price, level of non monetary attributes), and these are evaluated using a scoring rule. We provide a systematic analysis of equilibrium behaviour...

Persistent link: https://www.econbiz.de/10005497976

How to Win a Decision in a Confederation

Jehiel, Philippe; Thisse, Jacques-François - C.E.P.R. Discussion Papers - 2002

This Paper deals with collective decision making within a group of independent jurisdictions. The right to choose the public policy is delegated from the central authority of one of the jurisdictions through a bidding procedure among the group members. We identify the following trade-off:...

Persistent link: https://www.econbiz.de/10005661614

The Impact of the Droit de Suite in the UK: An Empirical Analysis

Banternghansa, Chanont; Graddy, Kathryn - C.E.P.R. Discussion Papers - 2009

changes in the UK auction market for art that is subject to the Droit de Suite (DDS), relative to changes for art not subject … to the DDS, and also relative to changes in the auction markets for art in countries where there has been no change in … impact on the UK art auction market. …

Persistent link: https://www.econbiz.de/10005662156

Mixed Bundling Auctions

Jehiel, Philippe; Meyer-Ter-Vehn, Moritz; Moldovanu, Benny - C.E.P.R. Discussion Papers - 2006

. For any number of objects and bidders, both the pure bundling auction and separate, efficient auctions for the single … objects are revenue-inferior to an auction that involves mixed bundling. …

Persistent link: https://www.econbiz.de/10005667050