such procurement is an English auction followed by an auctioneer's option to engage in ultimatum bargaining with the winner … equilibrium strategy of exiting the auction at their costs and then accepting strictly profitable offers. Buyers generally … with auction prices when they should be invariant. We explain this deviation by modeling buyers' subjective posteriors …

. Enterprises embarking on a reverse auction initiative often start with their commodity purchases. We conduct laboratory … experiments and find that this is a poor starting point. Both the mean and variance of prices when sourcing through reverse … sealed bid auction and has the same symmetric Nash equilibrium. However, the request for quote allows identification of …

even when no economic motivator is present. To accomplish this task, we employ an experimental Vickrey median price auction …

strategic best response. Rule switching probabilities depend upon a bidder's past auction outcomes. We apply this model to a new … experiment that varies the number of bidders, the auction frame between forward and reverse, and includes the collection of …

Running conventional laboratory experiments (i.e., with a standard student subject pool) is common practice in economic … experiments especially when methodological issues are explored. However, generalization of the results from such experiments to …). The auction is constructed in a way to isolate warm glow by donating the sum of revenues by highest bidders to an …

We investigate a private value auction in which a single "entrant" on winning imposes a negative externality on two … "regular" bidders. In an English auction, when all bidders are active "regulars" free ride, exiting before price reaches their … value. In a first-price sealed-bid auction incentives for free riding and aggressive bidding coexist, limiting free riding …

good news about its value. Naive players who condition expectations only on their private information contribute too little …