We experimentally study the effect of auction format (sealed-bid vs. closed clock vs. open clock) and auction sequence (simultaneous vs. sequential) on bidding behaviour and auction outcomes in auctions of multiple related multi-unit items. Prominent field applications are the sale of emission...

In auctions, typically a fixed quantity is traded, while the price and the total monetary value of the transaction depend on the actions of the bidders. We consider a budget auction alternative, where the total monetary value of the transaction is fixed, while the traded quantity is endogenously...