Experimental Comparisons of Auctions Under Single-and Multi-unit Demand PDF Download
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Author: Paul Alsemgeest
Publisher:
ISBN:
Category : Auctions
Languages : en
Pages : 58
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Book Description
Author: Paul Alsemgeest
Publisher:
ISBN:
Category : Auctions
Languages : en
Pages : 58
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Book Description
Author: P.M Alsemgeest
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
An English clock auction and a sealed-bid auction with lowest accepted-bid pricing are studied in a controlled laboratory setting. Buyers bid for either a single unit or two units of the good. The sealed-bid auction generates more revenue than the English clock auction in both cases. The revenue from the English clock auction is lower in the two-unit demand environment than in the single-unit demand environment, due to strategic demand reduction on the part of bidders.
Author: Charles R. Plott
Publisher: Elsevier
ISBN: 0444826424
Category : Business & Economics
Languages : en
Pages : 1175
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Book Description
While the field of economics makes sharp distinctions and produces precise theory, the work of experimental economics sometimes appears blurred and may produce uncertain results. The contributors to this volume have provided brief notes describing specific experimental results.
Author: Charles Nabih Noussair
Publisher:
ISBN:
Category : Auctions
Languages : en
Pages : 98
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Author: Flavio M. Menezes
Publisher:
ISBN:
Category : Auctions
Languages : en
Pages : 42
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Book Description
Author: Jinsoo Bae (Ph. D. in economics)
Publisher:
ISBN:
Category : Auctions
Languages : en
Pages : 114
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Book Description
Chapter 3 studies a pro-competitive effect of joint bidding in multi-unit uniform price auctions where bidders have private values and demand different quantities of units. I analyze a simple model with three identical items for sale, two small bidders each demanding a single unit, and a big bidder demanding two units. I show that joint bidding of the two small bidders, which recovers the symmetry of bidders, enhances competition among the bidders and increases efficiency and revenue of the auction.
Author: John Charles Bernard
Publisher:
ISBN:
Category :
Languages : en
Pages : 524
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Book Description
Author: Dirk Engelmann
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
We present laboratory experiments of five different multi-unit auction mechanisms. Two units of a homogeneous object were auctioned off among two bidders with at demand for two units. We test whether expected demand reduction occurs in open and sealed-bid uniform-price auctions. Revenue equivalence is tested for these auctions as well as for the Ausubel, the Vickrey and the discriminatory sealed-bid auction. Furthermore, we compare the five mechanisms with respect to the efficient allocation of the units. We also provide some theoretical insights concerning the equilibria of uniform-price auctions with incomplete information.
Author: Sascha Michael Schweitzer
Publisher: KIT Scientific Publishing
ISBN: 3866449046
Category : Business & Economics
Languages : en
Pages : 212
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Book Description
This book presents two experimental studies that deal with the comparison of multi-item auction designs for two specific applications: the sale of 2.6 GHz radio spectrum rights in Europe, and the sale of emissions permits in Australia. In order to tackle the complexity of these experiments, a cognitively based toolkit is proposed, including modularized video instructions, comprehension tests, a learning platform, a graphical one-screen user interface, and comprehension-based group matching.
Author: Christiane Rosen
Publisher:
ISBN:
Category :
Languages : en
Pages : 30
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Book Description
