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Experimental Comparisons of Auctions under Single- and Multi-Unit Demand

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Listed:
  • Alsemgeest, Paul
  • Noussair, Charles
  • Olson, Mark

Abstract

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. Copyright 1998 by Oxford University Press.

Suggested Citation

  • Alsemgeest, Paul & Noussair, Charles & Olson, Mark, 1998. "Experimental Comparisons of Auctions under Single- and Multi-Unit Demand," Economic Inquiry, Western Economic Association International, vol. 36(1), pages 87-97, January.
  • Handle: RePEc:oup:ecinqu:v:36:y:1998:i:1:p:87-97
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