Nishimura, Takeshi; Hanaki, Nobuyuki - 2024
-standing concern in the literature. We tackle this problem by experimentally testing the performance of an FE auction, which is a … second-price (2P) auction with lotteries. In the FE treatment, overbid amounts given entry increased and entry rates … causes of failure in the FE, we take an evolutionary-game approach. The FE auction with risk-neutral bidders has exactly two …