Auctions of Homogeneous Goods with Increasing Returns: Experimental Comparison of Alternative “Dutch” Auctions

Published Online:https://doi.org/10.1287/mnsc.1040.0254

References

  • Ashenfelter Orley. How auctions work for wine and art. J. Econom. Perspectives (1989) 3(3):23–36CrossrefGoogle Scholar
  • Ausubel Lawrence M. An efficient ascending-bid auction for multiple objects. (2002) . Working paper, University of Maryland, College Park, MDGoogle Scholar
  • Ausubel Lawrence M., Peter Cramton. Demand reduction and inefficiency in multi-unit auctions. (2002) . Working paper no. 96-07, University of Maryland, College Park, MDGoogle Scholar
  • Best Ronald W., Best Roger J., Hodges Charles W. The effect of self-tender offers on earnings expectations. J. Financial Res. (1998) 21(2):123–138CrossrefGoogle Scholar
  • Cantillon Estelle, Martin Pesendorfer, Cramton Peter, Shoham Yoav, Steinberg Richard. Auctioning bus routes. Combinatorial Auctions (2005) (MIT Press, Cambridge, MA) CrossrefGoogle Scholar
  • Carare Octavian, Michael Rothkopf. Slow Dutch auctions. Management Sci. (2004) . ForthcomingGoogle Scholar
  • Cox James, Bruce Roberson, Smith Vernon L. Theory and behavior of single object auctions. Res. Experiment. Econom. (1982) 1:61–99Google Scholar
  • Engelbrecht-Wiggans Richard, Kahn Charles M. Multi-unit pay-your-bid auctions with variable awards. Games Econom. Behavior (1998a) 23:25–42CrossrefGoogle Scholar
  • Engelbrecht-Wiggans Richard, Kahn Charles M. Multi-unit auctions with uniform prices. Econom. Theory (1998b) 12(2):227–258CrossrefGoogle Scholar
  • Engelbrecht-Wiggans Richard, Weber Robert J. An example of a multi-object auction game. Management Sci. (1979) 25(12):1272–1276LinkGoogle Scholar
  • Fevrier Philippe, Laurent Linnemer, Michael Visser. Buy or wait: That is the question. (2004) . Working paperGoogle Scholar
  • Fischbacher U. z-Tree—Zurich toolbox for readymade economic experiments. Experimenter's manual. (1999) . Working paper #21, Institute for Empirical Research in Economics, University of Zurich, Zurich, SwitzerlandGoogle Scholar
  • Hausch Donald B. Multi-object auctions: Sequential vs. simultaneous sales. Management Sci. (1986) 32(12):1599–1610LinkGoogle Scholar
  • Kagel John H., Levin Dan. Behavior in multi-unit demand auctions: Experiments with uniform price and dynamic Vickrey auctions. Econometrica (2001) 69(2):413–454CrossrefGoogle Scholar
  • Kagel John H., Levin Dan. Multi-unit demand auctions with synergies: Behavior in sealed-bid versus ascending-bid uniform price auctions. Games Econom. Behavior (2004) . ForthcomingGoogle Scholar
  • Katok Elena, Anthony Kwasnica. Time is money: The impact of clock speed on seller's revenue in Dutch auctions. (2004) . Working paper, Pennsylvania State University, University Park, PAGoogle Scholar
  • Keskinocak Pinar, Sridhar Tayur. Quantitative analysis for Internet-enabled supply chains. Interfaces (2001) 31(2):70–89LinkGoogle Scholar
  • Kraus Bob, Pierre Mitchell. The procurement and sourcing applications report, 2001–2006. AMR Res. (2002) July 31Google Scholar
  • Krishna Vijay, Rosenthal Robert W. Simultaneous auctions with synergies. Games Econom. Behavior (1996) 17:1–31CrossrefGoogle Scholar
  • Lazear Edward P. Retail pricing and clearance sales. Amer. Econom. Rev. (1986) 76(1):14–32Google Scholar
  • List John, Lucking-Reiley David H. Demand reduction in multi-unit auctions: Evidence from a sportscard field experiment. Amer. Econom. Rev. (2000) 90(4):961–972CrossrefGoogle Scholar
  • Ledyard John O., Olson Mark, Porter David, Swanson Joseph A., Torma David P. The first use of a combined-value auction for transportation services. Interfaces (2002) 32(5):4–12LinkGoogle Scholar
  • Lucking-Reiley David H. Using field experiments to test equivalence between auction formats: Magic on the Internet. Amer. Econom. Rev. (1999) 89(5):1063–1080CrossrefGoogle Scholar
  • Lucking-Reiley David H. Auctions on the Internet: What's being auctioned and how? J. Indust. Econom. (2000) 48(3):227–252CrossrefGoogle Scholar
  • McAfee R. Preston, Daniel Vincent. The declining price anomaly. J. Econom. Theory (1993) 60(1):191–212CrossrefGoogle Scholar
  • McCabe Kevin A., Rassenti Stephen J., Smith Vernon L. Auction institutional design: Theory and behavior of simultaneous multiple-unit generalizations of the Dutch and English auctions. Amer. Econom. Rev. (1990) 80(5):1276–1283Google Scholar
  • Milgrom Paul. Putting auction theory to work: The simultaneous ascending auction. J. Political Econom. (2000) 108(2):245–272CrossrefGoogle Scholar
  • Milgrom Paul. Putting Auction Theory to Work (2004) (Churchill Lectures in Economics, Cambridge University Press, Cambridge, U.KM) CrossrefGoogle Scholar
  • Ockenfels Axel, Roth Alvin E. The timing of bids in Internet auctions: Market design, bidder behavior, and artificial agents. AI Magazine (2002) Fall):79–88Google Scholar
  • Ockenfels Axel, Roth Alvin E. Late and multiple bidding in second-price Internet auctions: Theory and evidence. Games Econom. Behavior (2003) . ForthcomingGoogle Scholar
  • Palfrey Thomas R. Multiple-object, discriminatory auctions with bidding constraints: A game-theoretic analysis. Management Sci. (1980) 26(9):935–946LinkGoogle Scholar
  • PrecisionTree: Decision analysis in Microsoft Excel (2003) . www.palisade.com/Google Scholar
  • Roth Alvin E., Axel Ockenfels. Last-minute bidding and the rules for ending second-price auctions: Evidence from eBay and Amazon auctions on the Internet. Amer. Econom. Rev. (2002) 92(4):1093–1103CrossrefGoogle Scholar
  • Rothkopf Michael H. Bidding in simultaneous auctions with a constraint on exposure. Oper. Res. (1977) 25:620–629LinkGoogle Scholar
  • Rothkopf Michael H., Alexander Pekeč, Harstad Ronald M. Computationally manageable combinational auctions. Management Sci. (1998) 44(8):1131–1147LinkGoogle Scholar
  • Rothkopf Michael H., Teisberg Thomas J., Kahn Edward P. Why are Vickrey auctions rare? J. Political Econom. (1990) 98(1):94–109CrossrefGoogle Scholar
  • van den Berg Gerard J., van Ours Jan C., Pradhan Menno P. The declining price anomaly in Dutch rose auctions. Amer. Econom. Rev. (2001) 91(4):1055–1062CrossrefGoogle Scholar
  • Vickrey William. Counterspeculation, auctions, and competitive sealed tenders. J. Finance (1961) 16:8–37CrossrefGoogle Scholar
  • Wilson Robert. Auctions of shares. Quart. J. Econom. (1979) 93(4):675–689CrossrefGoogle Scholar
INFORMS site uses cookies to store information on your computer. Some are essential to make our site work; Others help us improve the user experience. By using this site, you consent to the placement of these cookies. Please read our Privacy Statement to learn more.