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This paper investigates how subjects determine minimum selling prices for lotteries. We design an experiment where …
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This paper examines the allocative efficiency of two popular non-price allocation mechanisms - the lottery (random allocation) and the waiting-line auction (queue system) - for the cases where consumers possess identical time costs (the homogeneous case), and where time costs are correlated with...
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high level of participation. We propose a new type of auction system which takes advantage of lucky draw and gambling …
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We conduct a laboratory experiment to compare the fairness and intensity of round-robin tournaments with three …
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