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Appendix to ''��Vickrey Auction vs BDM: Difference in bidding behaviour and the impact of other-regarding motives''

Author

Listed:
  • Niall Flynn
  • Christopher Kah
  • Rudolf Kerschbamer

Abstract

In an experiment we first elicit the distributional preferences of subjects and then let them bid for a lottery, either in a Becker-DeGroot-Marschak (BDM) mechanism or a Vickrey auction (VA). Standard theory predicts that altruistic subjects underbid in the VA -- compared to the BDM -- while spiteful subjects overbid in the VA. The data do not confirm those predictions. While we observe aggregate underbidding in the VA, the result is not driven by the choices of altruistic subjects.

Suggested Citation

  • Niall Flynn & Christopher Kah & Rudolf Kerschbamer, 2015. "Appendix to ''��Vickrey Auction vs BDM: Difference in bidding behaviour and the impact of other-regarding motives''," Working Papers 2015-16_appendix, Faculty of Economics and Statistics, Universität Innsbruck.
    • Handle: RePEc:inn:wpaper:2015-16_appendix
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    File URL: https://www2.uibk.ac.at/downloads/c4041030/wpaper/2015-16_appendix.pdf
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    More about this item

    Keywords

    Distributional preferences; BDM; Vickrey auction;
    All these keywords.

    JEL classification:

    • C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games

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