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 InfoPaper provided by Purdue University, Department of Economics in its series Purdue University Economics Working Papers with number 1078.
Length: 41 pages
Date of creation: 1995
Date of revision:
demand ; economic theory ; auctions;
Other versions of this item:
- Alsemgeest, Paul & Noussair, Charles & Olson, Mark, 1998. "Experimental Comparisons of Auctions under Single- and Multi-Unit Demand," Economic Inquiry, Western Economic Association International, Western Economic Association International, vol. 36(1), pages 87-97, January.
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