Uniform vs. discriminatory auctions with variable supply : experimental evidence


Damianov, Damian S. ; Oechssler, Jörg ; Becker, Johannes Gerd


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URL: https://ub-madoc.bib.uni-mannheim.de/2500
URN: urn:nbn:de:bsz:180-madoc-25004
Document Type: Working paper
Year of publication: 2007
Place of publication: Mannheim
Publication language: English
Institution: School of Law and Economics > Sonstige - Fakultät für Rechtswissenschaft und Volkswirtschaftslehre
MADOC publication series: Sonderforschungsbereich 504 > Rationalitätskonzepte, Entscheidungsverhalten und ökonomische Modellierung (Laufzeit 1997 - 2008)
Subject: 330 Economics
Classification: JEL: C92 D44 ,
Subject headings (SWD): Auktionstheorie , Preisdifferenzierung
Keywords (English): auctions , experiment , discriminatory , uniform
Abstract: 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.
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Damianov, Damian S. ; Oechssler, Jörg ; Becker, Johannes Gerd (2007) Uniform vs. discriminatory auctions with variable supply : experimental evidence. Open Access Mannheim [Working paper]
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