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Bidding Behavior in Multi-Unit Auctions - An Experimental Investigation Author info | Abstract | Publisher info | Download info | Related research | Statistics Dirk Engelmann
Veronika Grimm
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We present laboratory experiments of five different multi-unit auction mechanisms. Two units of a homogeneous object were auctioned off among two bidders with flat 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.
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Paper provided by University of Cologne, Department of Economics in its series Working Paper Series in Economics with number
24.
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Date of creation: 28 Feb 2006Date of revision:
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Keywords: Multi-Unit Auctions ; Demand Reduction ; Experimental Economics ; Other versions of this item:
Find related papers by JEL classification: D44 - Microeconomics - - Market Structure and Pricing - - - Auctions C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
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references Cited by : (explanations , 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.)
Katerina Sherstyuk, 2002.
"Some Results on Anti-Competitive Behavior in Multi-Unit Ascending Price Auctions ,"
Working Papers
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[Downloadable!]
Other versions: Veronika Grimm & Giovanni Ponti & Jaromir Kovarik, 2006.
"Fixed Price Plus Rationing: An Experiment ,"
Working Papers. Serie AD
2006-26, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
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Other versions:
GRIMM, Veronika & KOVARIK, Jaromir & PONTI, Giovanni, 2005.
"Fixed price plus rationing: an experiment ,"
CORE Discussion Papers
2005039, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
[Downloadable!] Veronika Grimm & Jaromir Kovarik & Giovanni Ponti, 2008.
"Fixed price plus rationing: an experiment ,"
Experimental Economics ,
Springer, vol. 11(4), pages 402-422, December.
[Downloadable!] (restricted)
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