, deals with bidders' anticipated regrets from winning and from losing the auction. It exploits the stochastic properties of … the auction format and rationalizes: (i) Nash equilibrium bidding, (ii) (non-)monotone overbidding and (iii) fully cursed …

This paper presents the results of experiments carried out in two countries, Bulgaria and Germany, with different … allocation rules (first- vs. second-price - auction vs. fair division game). The data analysis of the sealed-bid, private value …-contests compares the bid functions, some features of the bidding behavior as well as the efficiency rates and the price expectations in …

This paper presents the results of experiments carried out in two countries, Bulgaria and Germany, with different … allocation rules (first- vs. second-price - auction vs. fair division game). The data analysis of the sealed-bid, private value …-contests compares the bid functions, some features of the bidding behavior as well as the efficiency rates and the price expectations in …

We conduct an experiment in which we auction the scarce rights to play the Proposer and Responder positions in … fees according to the auction price sequences observed in the auction treatment. With endogenous selection into ultimatum … games via auctions, we find that play converges to a session-specific Nash equilibrium and auction prices emerge which …

This paper presents the results of experiments carried out in two countries, Germany and Bulgaria, and for different … allocation rules (first vs. second price auction vs. fair division game). The data analysis of the sealed-bid, private value … bidding, truthful bidding, decision time, bid adjustments) as well as the efficiency rates and the price expectations. The …

question of the value added of letting the sourcing process consist of both an auction and a negotiation stage, theoretically … auction is beneficial to the buyer compared to no communication and ex-ante communication. In a setting where the buyer and …

question of the value added of letting the sourcing process consist of both an auction and a negotiation stage, theoretically … auction is beneficial to the buyer compared to no communication and ex-ante communication. In a setting where the buyer and …

We experimentally examine the collusive properties of two commonly used auctions: the English auction (EN) and the … first-price sealed-bid auction (FPSB). In theory, both tacit and overt collusion are always incentive compatible in EN while … both can be incentive compatible in FPSB if the auction is repeated and bidders are patient enough. We find that the …

We conduct experiments on common value auctions with rationing. In each auction, the good is randomly allocated to each …'s curse, and lose money on average. However, the bids in the experiments do adjust in the appropriate direction as the degree …