Uniform vs. Discriminatory Auctions with Variable Supply - Experimental Evidence
Damian Damianov (),
Jörg Oechssler and
Johannes Gerd Becker ()
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Johannes Gerd Becker: ETH Zurich, Department of Economics, Postal: Zürichbergstrasse 18, CH-8032 Zurich
No 07-68, Sonderforschungsbereich 504 Publications from Sonderforschungsbereich 504, Universität Mannheim, Sonderforschungsbereich 504, University of Mannheim
In the variable supply auction considered here, the seller decides how many costumers with unit demand to serve after observing their bids. Bidders are uncertain about the seller's cost. We experimentally investigate whether a uniform or a discriminatory price auction is better for the seller in this setting. Exactly as predicted by theory, it turns out that the uniform price auction produces substantially higher bids, and consequently yields higher revenues and profits for the seller. Somewhat surprisingly but again predicted by theory, it also yields a higher number of transactions, which makes it the more efficient auction format.
New Economics Papers: this item is included in nep-exp, nep-gth and nep-mic
Note: Financial support from the Deutsche Forschungsgemeinschaft, SFB 504, at the University of Mannheim, is gratefully acknowledged.
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Journal Article: Uniform vs. discriminatory auctions with variable supply - experimental evidence (2010)
Working Paper: Uniform vs. Discriminatory Auctions with Variable Supply - Experimental Evidence (2007)
Working Paper: Uniform vs. discriminatory auctions with variable supply: experimental evidence (2007)
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