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| Author: | Engelmann, D. Grimm, V. |
| Title: | Bidding behaviour in multi-unit auctions - An experimental investigation |
| Journal: | Economic Journal
2009 : APR, VOL. 119:537, p. 855-882 |
| Index terms: | auctions bidding strategy Europe USA |
| Freeterms: | asset allocation |
| Language: | eng |
| Abstract: | In this study, laboratory experiments of five different multi-unit auction mechanisms are presented. Two units of a homogeneous object were auctioned off among two bidders with flat demand for two units. It is tested whether expected demand reduction occurs in open and sealed-bid uniform-price auctions. Revenue equivalence for these auctions is also tested as well as for the Ausubel, the Vickrey and the discriminatory sealed-bid auction. In addition, the five mechanisms are compared as to the efficient allocation of the units. |
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