We characterize optimal selling mechanisms in auction environments where biddersmust incur a cost to learn their valuations. These mechanisms specify for eachperiod, as a function of the bids in previous periods, which new potential buyersshould be asked to bid. In addition, these mechanisms...

We examine the strategic behavior of leaders and followers in sequential duopoly experimentsin which followers either perfectly observe the leaders’ actions or else observe nothing. Ourexperiments show that consistent with the theory, leaders enjoy a greater first-mover advantagewhen followers...

We examine the strategic behavior of leaders and followers in sequential duopoly experiments in which followers either perfectly observe the leaders' actions or else observe nothing. (...)