Please use this identifier to cite or link to this item: https://hdl.handle.net/2440/82245
Citations
Scopus Web of Science® Altmetric
?
?
Type: Journal article
Title: Bidding behavior at sequential first-price auctions with(out) supply uncertainty: A laboratory analysis
Author: Neugebauer, T.
Pezanis-Christou, P.
Citation: Journal of Economic Behavior and Organization, 2007; 63(1):55-72
Publisher: Elsevier Science BV
Issue Date: 2007
ISSN: 0167-2681
Statement of
Responsibility: 
Tibor Neugebauer, Paul Pezanis-Christou
Abstract: We report on a series of experiments that test the effects of an uncertain supply on bidding behavior and prices in sequential first-price auctions with private-independent values and unit-demands. Supply is assumed uncertain when buyers do not know the exact number of units to be sold (i.e., the length of the sequence). We observe an important overbidding in all but the last stage of a sequence, no matter whether supply is certain, and a non-monotone behavior when supply is certain. Yet, the data qualitatively support most stage-to-stage bid predictions and the price trend predictions for risk neutral bidders. © 2006.
Keywords: Sequential first-price auctions
Independent private values
Unit-demand
Supply uncertainty
Price trends
Experiments
Rights: ©2006 Published by Elsevier B.V
DOI: 10.1016/j.jebo.2005.03.011
Published version: http://dx.doi.org/10.1016/j.jebo.2005.03.011
Appears in Collections:Aurora harvest 4
Economics publications

Files in This Item:
There are no files associated with this item.


Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.