bids become due. It is shown that when bidders experience identity dependent externalities and auction participation is … auction allocation in a more ex-post efficient manner. Furthermore, it is shown that the policy of revelation increases both … exogenous, then for a large class of standard auction mechanisms, a policy of revelation serves to realize a higher surplus …

identity-independent price externalities, while the outcome of the second-price auction is. In contrast, identity …-dependent price externalities affect the outcome of both auction formats. In any case, the second-price auction exacerbates the …We consider an auction setting, in a symmetric information framework, in which bidders, even if they fail to obtain the …

such procurement is an English auction followed by an auctioneer’s option to engage in ultimatum bargaining with the … winner. We study behavior and performance in this procurement format using a laboratory experiment. Sellers closely follow … the equilibrium strategy of exiting the auction at their costs and then accepting strictly profitable offers. Buyers …

such procurement is an English auction followed by an auctioneer's option to engage in ultimatum bargaining with the winner …. We study behavior and performance in this procurement format using a laboratory experiment. Sellers closely follow the … equilibrium strategy of exiting the auction at their costs and then accepting strictly profitable offers. Buyers generally …

such procurement is an English auction followed by an auctioneer's option to engage in ultimatum bargaining with the winner …. We study behavior and performance in this procurement format using a laboratory experiment. Sellers closely follow the … equilibrium strategy of exiting the auction at their costs and then accepting strictly profitable offers. Buyers generally …

. Enterprises embarking on a reverse auction initiative often start with their commodity purchases. We conduct laboratory … sealed bid auction and has the same symmetric Nash equilibrium. However, the request for quote allows identification of … strategies in the sell auction counterpart. Consequently we estimate that one-fourth of the subjects follow a simple mark-up rule …

First-price auction experiments find often substantial overbidding which is typically related to risk aversion. We …