In this paper we study equilibrium and experimental bidding behaviour in first-price and
second-price auctions with outside options. We find that bidders do respond to outside …

This study examines bidder preferences between alternative auction institutions. We seek to
characterize experimentally the degree to which bidders prefer an ascending auction to a …

The experimental literature has documented that there is overbidding in second‐price
auctions, regardless of the valuations of bidders. In contrast, in first‐price auctions, there …

The paper models auctions with bidders who have reference dependent preferences and
who may be loss averse. The endogenous reference point is defined as either the ex-ante or …

Auctions are often used to sell idiosyncratic goods difficult for potential bidders to value ex
ante. Laboratory auctions with uncertainty over final values in this experiment resulted in …

This paper provides a link between the structural approach of econometrics of auctions with
the stochastic frontier literature in an effort to model excess bidding behaviour. The new …

To transform donations “in kind” into cash, charities of all sizes use auctions and raffles.
Despite this, neither the theory nor the practice of efficient fund-raising–and, in particular …

Two types of auction were introduced on the Internet a few years ago and have rapidly been
gaining widespread popularity. In both auctions, players compete for an exogenously …

First-price auction experiments find often substantial overbidding which is typically related to
risk aversion. We introduce a model where some bidders use simple linear bids. As with risk …

The paper generalizes the models of the standard first-and second-price auctions (FPA and
SPA) by using the Cobb-Douglas function to evaluate bidders' two conflicting bidding …