|
EconStor >
The University of Nottingham >
Centre for Decision Research and Experimental Economics (CeDEx), The University of Nottingham >
CeDEx Discussion Paper Series, The University of Nottingham >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/49692
|
| | |
| Title: | | Divisible-good uniform price auctions: The role of allocation rules and communication among bidders  |
| Authors: | | Sefton, Martin Zhang, Ping |
| Issue Date: | | 2009 |
| Series/Report no.: | | CeDEx discussion paper series 2009-21 |
| Abstract: | | We use laboratory experiments to compare allocation rules in uniform price divisible good auctions. 'Standard' and 'uniform' allocation rules admit different types of low-price equilibria, which are eliminated by a 'hybrid' rule. We observe little evidence of revenue differences among the allocation rules. Under all three allocation rules, prices are competitive when bidders cannot explicitly communicate, and collusive when bidders can explicitly communicate. With explicit communication we find that collusive agreements are more fragile when the gain from a unilateral deviation is larger. We also find that the standard allocation rule is particularly vulnerable to collusive equilibria. |
| Subjects: | | experiment uniform price auction multi-unit auction divisible-good auction allocation rule communication |
| JEL: | | D44 C72 C92 |
| Document Type: | | Working Paper |
| Appears in Collections: | | CeDEx Discussion Paper Series, The University of Nottingham
|
| Files in This Item:
| |
|
| No. of Downloads:
| |
| last Month |
last 3 Month |
total |
|
|
|
|
|
| |
| | |
Download bibliographical data as:
BibTeX
|
| |
Share on:http://hdl.handle.net/10419/49692
|
Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.
|