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trade. Those auctions come in a variety of different formats, such as the Buy-It-Now auction format on eBay, that allows … sellers to post prices at which buyers can purchase a good prior to the auction. Even though, buyer behavior is well studied … auction market (the eBay platform and eBay traders) with the techniques of lab experiments. We find a striking link between …
Persistent link: https://www.econbiz.de/10010333716
In this paper the sequence of winning bids in the public auction of used cars in New Jersey is examined for the … sale. In a further contrast to many other studies, these data indicate that the prices tend to increase as the auction …
Persistent link: https://www.econbiz.de/10010263302
We analyze the welfare consequences of an increase in the commissions charged by the organizer of an auction … of tax incidence in consumer economics. We argue, however, that auction markets deserve a separate treatment. Indeed we …
Persistent link: https://www.econbiz.de/10011325020
We experimentally investigate four allocation mechanisms - all based on the fair division approach, with varying bid elicitation methods and price rules - in terms of their allocation efficiency, distributional effects, and regularities in individual bidding behavior. In a repeated design, an...
Persistent link: https://www.econbiz.de/10010263876
empirically, about the properties of charity auctions. The small theoretical literature suggests that the all-pay auction should … price or all-pay raises the most money. Our experiment suggests that both the all-pay and second price formats are dominated … by the first price auction. Our design also allows us to identify differential participation as the source of the …
Persistent link: https://www.econbiz.de/10010271934
We present results from a series of experiments that allow us to measure overbidding and, in particular, underbidding in first-price auctions. We investigate how the amount of underbidding depends on seemingly innocent parameters of the experimental setup. To structure our data we present and...
Persistent link: https://www.econbiz.de/10010276381
In a punishment experiment, we separate the demand for punishment in general from the demand to conduct punishment …, afterwards, subjects take part in a second price auction for the right to (physically) carry out the act of payoff reduction …
Persistent link: https://www.econbiz.de/10010326466
Auctions often involve goods exhibiting a common knowledge ex-post risk that is independent of buyers’ private values or their signals regarding common value components. Esö and White (2004) showed theoretically that ex-post risk leads to precautionary bidding for DARA bidders: Agents reduce...
Persistent link: https://www.econbiz.de/10010427591
In a punishment experiment, we separate the demand for punishment in general from a possible demand to conduct …, afterwards, subjects take part in a second price auction for the right to (physically) carry out the act of payoff reduction …. This auction only resolves who will punish, not whether punishment takes place, so only subjects with a demand for personal …
Persistent link: https://www.econbiz.de/10011422210
gender norms. In this study, we design an experiment to compare the effectiveness of targeting only adolescent girls with an …
Persistent link: https://www.econbiz.de/10014480527