As bidders reach capacity throughout a sequential common value auction, theory predicts they will account for the option value of purchasing later units against fewer rivals. Mergers, joint purchasing arrangements, or a common bidding agent may result in a capacity advantaged bidder. Using...

At livestock auctions, the same purchasing agent can represent more than one processor. Repeated multiple-unit English auctions are created in a laboratory to measure the impact of shared agents on trade prices under alternative treatments with six, and as few as two, agents representing six...

If respondents are strategic, voting in choice experiments may violate the common modelling assumption that everyone votes for his unconditionally most-preferred alternative. This presents a challenge to accurately estimating welfare measures. We conduct a homegrown-value laboratory experiment...