Bidding Behaviour in Multi-Unit Auctions - An Experimental Investigation

Dirk Engelmann () and Veronika Grimm

Economic Journal, 2009, vol. 119, issue 537, pages 855-882

Abstract: We present laboratory experiments of five different multi-unit auction mechanisms. Two units of a homogeneous object were auctioned off among two bidders with flat demand for two units. We test whether expected demand reduction occurs in open and sealed-bid uniform-price auctions. We also test revenue equivalence 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. Copyright © The Author(s). Journal compilation © Royal Economic Society 2009.

Date: 2009

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Working Paper: Bidding Behavior in Multi-Unit Auctions - An Experimental Investigation (2006)
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