Asymmetric Auctions with Resale: An Experimental Study
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چکیده
We present results from an experiment based on Hafalir and Krishna’s (2008) model of auctions with resale. As predicted weak bidders bid more with resale than without and resale raises average auction prices. When the equilibrium calls for weak types to bid higher than their values with resale they do so, but not nearly as much as the theory predicts. When the equilibrium calls for weak bidders to bid their value with resale, outcomes are much closer to the risk neutral Nash model’s predictions. JEL classification: D44, C90
منابع مشابه
Asymmetric auctions with resale: An experimental study
We present results from an experiment based on Hafalir and Krishnas (2008) model of auctions with resale. As predicted weak bidders bid more with resale than without, so that resale raises average auction prices. When the equilibrium calls for weak types to bid higher than their values with resale they do, but not nearly as much as the theory predicts. When the equilibrium calls for weak bidde...
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تاریخ انتشار 2009