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Recently, economists have developed methods for structural estimation of auction models. Many researchers object to these methods because they find the rationality assumptions used in these models to be implausible. In this paper, we explore whether structural auction models can generate...
Persistent link: https://www.econbiz.de/10012468808
contract awarding, exploiting an experiment run by a firm which introduced a new vendor rating system scoring suppliers' past …
Persistent link: https://www.econbiz.de/10012455866
our predictions in a laboratory experiment that compares two-bidder auctions with one prize and 20-bidder auctions with …
Persistent link: https://www.econbiz.de/10012458481
Bidders' risk attitudes have key implications for choices of revenue-maximizing auction formats. In ascending auctions, bid distributions do not provide information about risk preference. We infer risk attitudes using distributions of transaction prices and participation decisions in ascending...
Persistent link: https://www.econbiz.de/10012459225
We develop a competitive equilibrium theory of a market for votes. Before voting on a binary issue, individuals may buy and sell their votes with each other. We define the concept of Ex Ante Vote-Trading Equilibrium, identify weak sufficient conditions for existence, and construct one such...
Persistent link: https://www.econbiz.de/10012462342
There has been a dramatic increase in the use of experimental methods in the past two decades. An oft-cited reason for this rise in popularity is that experimental methods provide the necessary control to estimate treatment effects in isolation of other confounding factors. We examine the...
Persistent link: https://www.econbiz.de/10012465582
, versus the option of making the reserve public by using it as the minimum bid level. In a field experiment, we auction 50 …
Persistent link: https://www.econbiz.de/10012470543
have a fixed end time. A natural experiment is available because the auctions on Amazon, while operating under otherwise …
Persistent link: https://www.econbiz.de/10012471021
We conduct a laboratory experiment to study a decentralized market where goods are differentiated and evaluations are …
Persistent link: https://www.econbiz.de/10012629485
Choice screen auctions have been recently deployed in 31 European countries, allowing consumers to choose their preferred search engine on Google's Android platform instead of being automatically defaulted to Google's own search engine. I show that a seemingly minor detail in the design of these...
Persistent link: https://www.econbiz.de/10012482310