Life annuities can be a valuable component of the decumulation stage of wealth during retirement. While economists argue that most retirees should annuitize, actual demand in the marketplace is low. We analyze data from two studies to determine how measurable individual differences among...

Reverse pricing is a market mechanism under which a consumer's bid for a product leads to a sale if the bid exceeds a hidden acceptance threshold the seller has set in advance. The seller faces two key decisions in designing such a mechanism: First, he must decide where in the process to collect...

This paper analyzes optimal selling strategies of a monopolist facing forward-looking patient unit-demand bidders in a sequential auction-market. Such a seller faces a fundamental choice between two selling regimes: adaptive selling which involves learning about remaining demand from early...

When capacity-constrained bidders have information about a good sold in a future auction, they need to take the information into account in forming today's bids. The capacity constraint makes even otherwise unrelated objects substitutes and creates an equilibrium link between future competition...

Consumer bidding is common in a wide variety of markets. An important source of friction in many markets with bidding is the cost of participation. We investigate the impact of participation costs on bidder entry and bidding behavior using incentive-compatible laboratory experiments with...

Name-your-own-price selling is a tractable laboratory paradigm for studying bidding behavior because it involves only one bidder per transaction. Using data from an incentive-compatible laboratory experiment that implemented a name-your-own-price seller who charges entry fees, we estimate a...