Implementing the Efficient Auction: Initial Results from the Lab

The efficient auction is designed to induce truthful bidding for bidders with affiliated values. Herein we implement the auction in the lab, and observe that inexperienced people can bid systematically in this more complex environment, albeit yielding a flatter bid function than the truthful one.


Issue Date:
2003
Publication Type:
Working or Discussion Paper
PURL Identifier:
http://purl.umn.edu/10733
Total Pages:
27
JEL Codes:
C9; D44
Series Statement:
Discussion Paper 03-63




 Record created 2017-04-01, last modified 2017-08-23

Fulltext:
Download fulltext
PDF

Rate this document:

Rate this document:
1
2
3
 
(Not yet reviewed)