their auction end at the evening, when many potential buyers may be online. …

auction with an additional buyer is conducted. The theoretical model predicts that with risk neutral agents all sales take … place in the auction rendering the negotiation prior to the auction obsolete. An experimental test of the model provides …

of a multi-object auction. After the auction either all bids or only the prices to be paid are revealed to all firms … bidders' costs generally depends on the type and fierceness of the market competition, the specific auction format, and the …

trade. Those auctions come in a variety of different formats, such as the Buy-It-Now auction format on eBay, that allows … sellers to post prices at which buyers can purchase a good prior to the auction. Even though, buyer behavior is well studied … auction market (the eBay platform and eBay traders) with the techniques of lab experiments. We find a striking link between …

effort and private information. We compare two procurement mechanisms where potential sellers first bid in an auction for …-price auction. We characterize Bayesian Nash equilibria such that both mechanisms are payoff-equivalent and induce the same efforts … and innovations. In these equilibria, signaling in the entry auction does not occur since contestants play a simple …

Inspired by some spectrum auctions, we consider a stylized license auction with incumbents and one entrant. Whereas the … proactively encourages entry and restricts incumbent bidders. In this framework, an English clock auction gives rise to an … auction, an English clock auction with exit option that allows the entrant to annul his bid, and an English clock auction with …

This paper reconsiders experimental tests of the English clock auction. We point out why the standard procedure can … that makes all bids visible, and apply it to a 'wallet auction' experiment. Finally, we test the theory against various …

oligopoly. We propose a new mechanism that combines elements of a license auction with royalty licensing by granting the losers … of the auction the option to sign a royalty contract. The optimal new mechanism eliminates the losses from exclusionary …