from auction alternatives in recent years, despite significantly lower costs in both direct fees and initial underpricing … when using the auction mechanism. This paper shows that in the French market, where the frequency of book-building and …

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 …

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 …

This article reports the results of a first-price sealed-bid auction experiment, which has been designed to test the … data provide evidence that this overbidding regularity can be a consequence of the standard information feedback in auction … experiments of revealing only the winning bid after each auction. By means of learning direction theory we explain the individual …

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 … winner's curse. The auction's efficiency is nevertheless higher with teams, since the bidders with the highest valuation are …