We examine learning behavior in auctions and Fair division games with independent private values under two different … adjustments. The evidence supports a cognitive approach to learning. -- Learning ; Auctions ; Fair Division Games …

bidders. In our experiment participants face four auction types (first versus second price - auction versus fair division game …In auctions an outside seIler offers a commodity for sale and collects the revenue w hich is achieved. In fair division … games the object is owned by the group of bidders. Consequently the auction's revenue is equally distributed among all …

allocation rules (first vs. second price auction vs. fair division game). The data analysis of the sealed-bid, private value …

The second–generation GSM spectrum auction in Germany is probably the most clear cut example of a low price outcome in … a simultaneous ascending-bid auction. The present paper gives an account of the events, describes the auction rules and … market conditions, and provides a theoretical explanation of low price equilibria in simultaneous, ascending-bid auctions. In …

competitive market structure than other UMTS auctions in Europe. The present paper explains the design of that auction, and …The third generation UMTS auction in Germany raised an enormous amount of revenue, and at the same time achieved a more … presents a game theoretic explanation of observed events during the crucial phase of that auction, which have puzzled several …

the two mechanisms for the symmetric case. We show that subjects in a computerized experiment prefer the two-bid auction …We compare the standard one-bid first price auction to a corresponding two-bid first price auction where each buyer may … over the one-bid auction when given the possibility of choosing among the two and we claim that this and other aspects of …

) auctions are analysed. The analysis focuses on the strategic aspect of the bidding process, i.e. the game-theoretic auction …This paper surveys the literature on auctions. To a large part it is concerned with revenue and efficiency … considerations. It addresses the problems of finding the auction that yields the greatest expected revenues to the auctioneer and …

This paper gives an account of events, and explains some systematic reasons of the UMTS auction flop in Switzerland …. Apart from general market developments, which could not have been anticipated, we argue that auction design which was … introduced in England and adopted in Switzerland and elsewhere is a cause of the disappointing performance of many UMTS auctions …