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more likely to win the auction when teams bid. -- UMTS auction ; team decision-making ; experiment ; winner's curse …We examine bidding behaviour of individuals and teams in an experimental auction resembling UMTS-license auctions. Even … relied on individual bidders. Our results show that teams stay on average longer in an (ascending sealed-bid English) auction …
Persistent link: https://www.econbiz.de/10009731143
We analyze mechanism choices of competing sellers with private valuations and show the existence of monotone pure strategy equilibria where sellers with higher reservation value choose mechanisms with a lower selling probability and a larger revenue in case of trade. As an application we...
Persistent link: https://www.econbiz.de/10010428738
We analyze mechanism choices of competing sellers with private valuations and show the existence of monotone pure strategy equilibria where sellers with higher reservation value choose mechanisms with a lower selling probability and a larger revenue in case of trade. As an application we...
Persistent link: https://www.econbiz.de/10010470913
Public procurement contracts (PPCs) of goods, services and works is about one tenth of global gross domestic product. Much research has been conducted on government spending and its aggregate effects, but evidence is scarce at the micro-level. This study exploits sealed-bid PPC auctions of...
Persistent link: https://www.econbiz.de/10012650218
Persistent link: https://www.econbiz.de/10008657598
Credence goods, such as car repairs or medical services, are characterized by severe informational asymmetries between sellers and consumers, leading to fraud in the form of provision of insufficient service (undertreatment), provision of unnecessary service (overtreatment) and charging too much...
Persistent link: https://www.econbiz.de/10010237656
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Persistent link: https://www.econbiz.de/10009229054
We run a large-scale natural field experiment to evaluate alternative strategies to enforce compliance with the law …. The experiment varies the text of mailings sent to potential evaders of TV license fees. We find a strong alert effect of …
Persistent link: https://www.econbiz.de/10009735335