Advanced Search
MyIDEAS: Login to save this paper or follow this series

Survival Auctions

Contents:

Author Info

  • Lixin Ye
  • John Kagel
  • Svetlana Pevnitska

Abstract

Ascending price clock auctions with drop-out information typically yield outcomes closer to equilibrium predictions than do comparable sealed-bid auctions. However clock auctions require congregating all bidders for a fixed time interval, which has limited field applicability and introduces inefficiencies of its own due to the cost of congregating bidders. This paper studies whether such inefficiencies can be removed by implementing a survival auction mechanism. Survival auctions are multi-round sealed-bid auctions with an information revelation component, in which bidders are successively eliminated from the auction from one round to the next. Such auctions have been shown to be strategically equivalent to ascending-bid clock auctions with drop-out information (see Fujishima et. al. 1999). We conduct an experimental study of a multi-unit demand Vickrey survival auction in which all but the lowest bidder make it to the next round and compare the outcomes to a single round, static-Vickrey auction and to Ausubel's dynamic version of the Vickrey auction with drop-out information provided. The paper investigates whether subjects behavior supports the theoretical isomorphism between the Ausubel auction and the survival version of the auction, and therefore whether such auctions can be successfully implemented in practice.

Download Info

To our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.

Bibliographic Info

Paper provided by Econometric Society in its series Econometric Society 2004 North American Winter Meetings with number 414.

as in new window
Length:
Date of creation: 11 Aug 2004
Date of revision:
Handle: RePEc:ecm:nawm04:414

Contact details of provider:
Phone: 1 212 998 3820
Fax: 1 212 995 4487
Email:
Web page: http://www.econometricsociety.org/pastmeetings.asp
More information through EDIRC

Related research

Keywords: Auctions; survival auctions; experiment.;

Other versions of this item:

Find related papers by JEL classification:

References

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
as in new window
  1. Kagel, John H & Harstad, Ronald M & Levin, Dan, 1987. "Information Impact and Allocation Rules in Auctions with Affiliated Private Values: A Laboratory Study," Econometrica, Econometric Society, Econometric Society, vol. 55(6), pages 1275-1304, November.
  2. Lawrence M. Ausubel, 2004. "An Efficient Ascending-Bid Auction for Multiple Objects," American Economic Review, American Economic Association, American Economic Association, vol. 94(5), pages 1452-1475, December.
Full references (including those not matched with items on IDEAS)

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Kagel, John H. & Levin, Dan, 2009. "Implementing efficient multi-object auction institutions: An experimental study of the performance of boundedly rational agents," Games and Economic Behavior, Elsevier, Elsevier, vol. 66(1), pages 221-237, May.
  2. David Cooper, 2007. "An introduction to the symposium on behavioral game theory," Economic Theory, Springer, Springer, vol. 33(1), pages 1-10, October.
  3. Engelmann, Dirk & Wolfstetter, Elmar G., 2005. "A Proxy Bidding Mechanism that Elicits all Bids in an English Clock Auction Experiment," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 36, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:ecm:nawm04:414. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Christopher F. Baum).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.