auction with an additional buyer is conducted. The theoretical model predicts that with risk neutral agents all sales take … place in the auction rendering the negotiation prior to the auction obsolete. An experimental test of the model provides …

services per year, we leverage our characterization of the optimal mechanism to study the design of first-price-auction …

-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 … alleviates adverse selection. It can earn the investor a higher expected payoff than a separating auction, even when consistency …

trade at a fixed price before an auction. In the "Buy-It-Now" format, the seller offers a price prior to the auction …

a simple design initially enhances competition in the auction. Moreover, the procurer cannot benefit from using a multi …-dimensional auction, as the optimal scoring rule depends only on the price. …

their auction end at the evening, when many potential buyers may be online. …

The purpose of this paper is to compare the two auction techniques (discriminatory and uniform-price auctions) most … auction. Theoretical models arrive at different rankings for expected revenue; however, they do reveal the relationship … between the bids submitted and the auction technique. These results are confirmed both by 'laborator' experiments and the …

Shill bidding is a fraudulent in-auction strategy where a seller participates as a bidder in his own auctions. This is …

cognitive skills. Employing an order-balanced design, we use first-price auctions (FPAs) to expose participants to an auction …