Bidding Behavior in Multi-Unit Auctions - An Experimental Investigation and some Theoretical Insights. / Engelmann, D; Grimm, V.

Egham, 2004.

Research output: Working paper

Published

Abstract

We present laboratory experiments of five different multi-unit auction mechanisms. Two units of a homogenous object were auctioned off among two bidders with flat demand for two units. We test whether expected demand reduction occurs in open and dealed-bid uniform price auctions. Revenue equivalence is tested for these auctions as well as for the Ausubel, the Vickrey and the discriminatory sealed-bid auction.Furthermore, we compare the five mechanisms with respect to the efficient allocation of the units. We also provide some theoretical insights concerning the equilibria of uniform-price auctions with incomplete information
Original languageEnglish
Place of PublicationEgham
Publication statusPublished - 30 Jul 2004
This open access research output is licenced under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License.

ID: 887197