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We compare efficiency and susceptibility to collusion of two alternative ways to sell multiple objects in independent private values environments: simultaneous and sequential ascending auctions. Both auctions are common in the real world. With explicit communication among bidders, collusion was...
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We consider payment schemes in experiments that model infinite-horizon games by using random termination. We compare paying subjects cumulatively for all periods of the game; with paying subjects for the last period only; with paying for one of the periods, chosen randomly. Theoretically,...
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In many collective action settings, such as decisions on public education or climate change mitigation, actions of a group have welfare consequences for themselves as well as their followers. We conduct laboratory experiments with two-stage predecessor-follower prisoners' dilemma and...
Persistent link: https://www.econbiz.de/10010779296
We consider payment schemes in experiments that model infinite-horizon games by using random termination. We compare paying subjects cumulatively for all periods of the game; with paying subjects for the last period only; with paying for one of the periods, chosen randomly. Theoretically,...
Persistent link: https://www.econbiz.de/10010866246
Dynamic externalities are at the core of many long-term environmental problems, from species preservation to climate change mitigation. We use laboratory experiments to compare welfare outcomes and underlying behavior in games with dynamic externalities under two distinct settings: traditionally...
Persistent link: https://www.econbiz.de/10010948736
In many collective action settings, such as decisions on public education or climate change mitigation, actions of a group have welfare consequences for themselves as well as their followers. We conduct laboratory experiments with two-stage predecessor-follower prisoners' dilemma and...
Persistent link: https://www.econbiz.de/10010752129