pricing methods. A clock auction stands for the "Dutch auction". A sealed-bid uniform price auction represents "book building …

This paper exploits a large-size auction experiment conducted by two Chinese Government Treasury security issuers … alternating auction-rule market experiment, we find that auction outcome yield rates of the two auction formats are not … uniform or discriminatory auction mechanisms. Based on the outcomes of more than 300 Treasury securities issued through an …

results have important implications for the design of IPO auctions. -- IPO ; uniform price auction ; divisible goods ; share …

In this paper, we propose and construct a direct measure of investors' divergence of opinionbased on auction bids data …

market conditions in the laboratory: a stylized book building approach, a closed book auction, and an open book auction. We …

measuring the impact of two key variables on this trade-off: capacity restraint and discount on the auction clearing price …. Using controlled experiment methodology in multi-unit uniform price auctions we found that the most capacity … consequently, the most predictable auction outcome. There are indications that a discount of 8% may suffice to incentivize …