Notice: wpdb::prepare was called incorrectly. The query does not contain the correct number of placeholders (2) for the number of arguments passed (3). Please see Debugging in WordPress for more information. (This message was added in version 4.8.3.) in /home/chaireepss/www/wp-includes/functions.php on line 4139
La Chaire EPPP » 15 novembre 2012 Paola Valbonesi : ALLOTMENT IN FIRST-PRICE AUCTIONS: AN EXPERIMENTAL INVESTIGATION

Paola Valbonesi

(Padova University)

IN FIRST-PRICE AUCTIONS: AN EXPERIMENTAL INVESTIGATION

image seminaire

Luca Corrazini (Padova University), Stefano Galavotti (Padova University), Rupert Sausgruber (University of Innsbruck), Paola Valbonesi (Padova University)

Lieu: IAE, 21 rue Broca, 75005. Salle B217.
Date: Jeudi, 15 Novembre, 2012 – 10:0012:00

Abstract: We experimentally study the effects of allotment – the division of one item into several units – on bidding behaviour and efficiency in independent private value auctions. In particular, we compare results from a single-item, first-price auction with those observed in two equivalent treatments with allotment: a two-unit discriminatory auction and a setting in which subjects participate to two identical and simultaneous first-price auctions, each involving a single unit. We find that allotment mitigates overbidding, with this effect being more pronounced in the discriminatory auction. In the allotment treatments, most bidders submit different bids for identical units (bid spreading). Finally, across treatments, the discriminatory auction is the least efficient.

DOWNLOAD THE PAPER 

Nos prochains évènements