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We study the relative performance of the first‐price sealed‐bid auction and the second-price sealed‐bid auction in a … reveals the winner’s payment to an outside observer. We find that the first‐price sealed‐bid auction in which the winner …
Persistent link: https://www.econbiz.de/10012908650
We study the relative performance of the first‐price sealed‐bid auction and the second-price sealed‐bid auction in a … reveals the winner’s payment to an outside observer. We find that the first‐price sealed‐bid auction in which the winner …
Persistent link: https://www.econbiz.de/10011932011
. Employing an order-balanced design, we use first-price auctions (FPAs) to expose participants to an auction format in which …
Persistent link: https://www.econbiz.de/10013314693
The Babylonian bridal auction, described by Herodotus, is regarded as one of the earliest uses of an auction in history …. Yet, to our knowledge, the literature lacks a formal equilibrium analysis of this auction. We provide such an analysis for …
Persistent link: https://www.econbiz.de/10010272937
We study a symmetric private value auction with signaling, in which the auction outcome is used by an outside observer … exists in the second-price auction and the English auction. We establish there is no equivalence between these two auction … clock, affects signaling incentives differently in both auction formats, and thereby also the bidders’ incentives to overbid …
Persistent link: https://www.econbiz.de/10013315051
information’ assumption. The ad value is characterized by a tractable analytical solution given observed auction parameters. Using … Yahoo! search auction data, we estimate value distributions and study the bidding behavior across product categories. We …
Persistent link: https://www.econbiz.de/10014259686
identical actions will be played some fraction of the time in the long run. We then conduct experiments to check this fragility …
Persistent link: https://www.econbiz.de/10010270592
More often than not production processes are the joint endeavor of people having different abilities and productivities. Such production processes and the associated surplus production are often not fully transparent in the sense that the relative contributions of involved agents are blurred;...
Persistent link: https://www.econbiz.de/10010274419
We experimentally study settings where an individual may have an incentive to adopt negative beliefs about another’s intentions in order to justify egoistic behavior. Our first study uses a game in which a player can take money from an opponent in order to prevent the opponent from...
Persistent link: https://www.econbiz.de/10012891985
We use a unique hand collected data set of 6 258 auctions from the online football manager game Hattrick to study micro-patterns of reserve price formation. We find that chosen reserve prices exhibit both, very sophisticated and irrational" behavior by the sellers. Reserve prices pick up the...
Persistent link: https://www.econbiz.de/10010264418