Experimental Comparisons of Auctions under Single- and Multi-Unit Demand
AbstractAn 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. Copyright 1998 by Oxford University Press.
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Bibliographic InfoArticle provided by Western Economic Association International in its journal Economic Inquiry.
Volume (Year): 36 (1998)
Issue (Month): 1 (January)
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Other versions of this item:
- Alsemgeest, P. & Noussair, C. & Olson, M., 1995. "Experimental Comparisons of Auctions Under Single and Multi Unit Demand," Purdue University Economics Working Papers 1078, Purdue University, Department of Economics.
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