Thirty-three states, as well as the District of Columbia, Guam, and Puerto Rico, have legalized the sale of marijuana and the national trends favor expanding legalization. Many experts predict exponential growth for the legal cannabis industry in the coming years, as well as the creation of...

We run a large field experiment with an online company specializing in selling used automobiles via ascending auctions. We manipulate experimentally the maximum amount which bidders can bid above the current standing price, thus affecting the ease with which bidders can engage in jump bidding....