We auction scarce rights to play the Proposer and Responder positions in ultimatum games. As a control treatment, we … randomly allocate these rights and charge exogenous participation fees. These participation fee sequences match the auction … price sequence from a session of the original treatment. With endogenous selection via auctions, we find that play converges …

We scrutinize the scope of auctions in the presence of downstream interactions and information externalities by using …-cost firm under incomplete information: a separating auction implies adverse selection and relies substantially on commitment to … allocation and transfer rules. A pooling auction serves as a commitment device against ex-post opportunistic behavior and …

In first- and second-price private value auctions with sequential bidding, second movers may discover the first movers …’ bid. Equilibrium behavior in the first-price auction is mostly unaffected but there are multiple equilibria in the second …- price auction. Consequently, comparative statics across price rules are equivocal. Experimentally, leaks in the first- price …