Demand reduction in multiunit auctions:Evidence from a sportscard field experiment

American Economic Review

Volumn 90, Issue 4, 2000, Pages 961-972

  List, John A ^b   Lucking Reiley, David ^a  

^a VANDERBILT UNIVERSITY   (United States)

^b NONE

Author keywords

[No Author keywords available]

Indexed keywords

EID: 0001697397     PISSN: 00028282     EISSN: None     Source Type: Journal    
DOI: 10.1257/aer.90.4.961     Document Type: Article

References (35)

1. Alsemgeest, Paul; Noussair, Charles and Olson, Mark. "Experimental Comparisons of Auctions under Single- and Multi-Unit Demand." Economic Inquiry, January 1998, 36(1), pp. 87-97.
2. Ausubel, Lawrence M. "An Efficient Ascending-Bid Auction for Multiple Objects." Working paper, University of Maryland, 1997.
3. Ausubel, Lawrence M. and Cramton, Peter C. "Demand Reduction and Inefficiency in Multi-Unit Auctions." Working paper, University of Maryland, 1996.
4. Brenner, David and Morgan, John. "The Vickrey-Clarke-Groves versus the Simultaneous Ascending Auction: An Experimental Approach." Working paper, Princeton University, 1997.
5. Cason, Timothy N. and Plott, Charles R. "EPA's New Emissions Trading Mechanism: A Laboratory Evaluation." Journal of Environmental Economics and Management, March 1996, 30(2), pp. 133-60.
6. Clarke, Edward H. "Multipart Pricing of Public Goods." Public Choice, Fall 1971, 11, pp. 17-33.
7. Conlisk, John. "Why Bounded Rationality?" Journal of Economic Literature, June 1996, 34(2), pp. 669-700.
8. Cox, James C.; Smith, Vernon L. and James M. Walker. "Theory and Behavior of Multiple Unit Discriminative Auctions." Journal of Finance, September 1984, 39(4), pp. 983-1010.
9. _. "Expected Revenue in Discriminative and Uniform Price Sealed Bid Auctions," in Vernon L. Smith, ed., Research in experimental economics, Vol. 3. Greenwich, CT: JAI Press, 1985, pp. 183-232.
10. Engelbrecht-Wiggans, Richard and Kahn, Charles M. "Multi-Unit Auctions with Uniform Prices." Economic Theory, September 1998, 12(2), pp. 227-58.
11. Godby, Robert. "Market Power, Vertical Markets and Laboratory Emission Permit Double Auctions." Working paper, University of Wyoming, 1998.
12. Groves, Theodore. "Incentives in Teams." Econometrica, July 1973, 41(4), pp. 617-31.
13. Isaac, Mark, and James, Duncan. "Robustness of the Incentive Compatible Combinatorial Auction," Working paper, University of Arizona, 1999.
14. Kagel, John H.; Harstad, Ronald M. and Levin, Dan. "Information Impact and Allocation Rules in Auctions with Affiliated Private Values: A Laboratory Study." Econometrica, November 1987, 55(6), pp. 1275-304.
15. Kagel, John H., and Levin, Dan. "Independent Private Value Auctions: Bidder Behavior in First-, Second-, and Third-Price Auctions with Varying Numbers of Bidders." Economic Journal, July 1993, 103(419), pp. 868-79.
16. _. "Behavior in Multi-Unit-Demand Auctions: Experiments with Uniform-Price and Dynamic Auctions." Econometrica, 2000 (forthcoming).
17. Katzman, Brett Eric. "Multi-Unit Auctions with Incomplete Information." Working paper, University of Miami, 1995.
18. Ledyard, John O.; Porter, David and Rangel, A. "Experiments Testing Multiobject Allocation Mechanisms." Journal of Economics and Management Strategy, Fall 1997, 6(3), pp. 639-75.
19. List, John A.; Margolis, M. and Shogren, Jason F. "Hypothetical-Actual Bid Calibration of a Multi-Good Auction." Economics Letters, September 1998, 60(3), pp. 263-68.
20. List, John A. and Shogren, Jason F. "Experimental Calibration of the Difference between Actual and Hypothetical Reported Valuations," Journal of Economic Behavior and Organization, October 1998a, 37(2), pp. 193-205.
21. _. "The Deadweight Loss of Christmas: Comment," American Economic Review, December 1998b, 88(5), pp. 1350-55.
22. Lucking-Reiley, David. "Using Field Experiments to Test Equivalence Between Auction Formats: Magic on the Internet." American Economic Review, December 1999, 89(5), pp. 1063-80.
23. _. "Magic on the Internet: Evidence from Field Experiments on Reserve Prices in Auctions." Working Paper, Vanderbilt University, 1999b.
24. McCabe, Kevin A.; Rassenti, Stephen J. and Smith, Vernon L. "Auction Institutional Design: Theory and Behavior of Simultaneous Multiple-Unit Generalizations of the Dutch and English Auctions." American Economic Review, December 1990, 80(5), pp. 1276-83.
25. _. "Testing Vickrey's and Other Simultaneous Multiple Unit Versions of the English Auction," in Vernon L. Smith, ed., Research in experimental economics, Vol. 4, Greenwich, CT: JAI Press, 1991, pp. 45-79.
26. Miller, Gary J. and Plott, Charles R. "Revenue Generating Properties of Sealed-Bid Auctions: An Experimental Analysis of One-Price and Discriminative Processes," in Vernon L. Smith, ed., Research in experimental economics, Vol. 3. Greenwich, CT: JAI Press, 1985, pp. 159-81.
27. Noussair, Charles. "Equilibria in a Multi-object Uniform Price Sealed Bid Auction with Multi-unit Demands." Economic Theory, 1995, 5(2), pp. 337-51.
28. Plott, Charles R. "Laboratory Experimental Testbeds: Application to the PCS Auction." Journal of Economics and Management Strategy, Fall 1997, 6(3), pp. 605-38.
29. Slonim, Robert and Roth, Alvin E. "Learning in High Stakes Ultimatum Games: An Experiment in the Slovak Republic." Econometrica, May 1998, 66(3), pp. 569-96.
30. Smith, Vernon L. and Walker, James M. "Monetary Rewards and Decision Cost in Experimental Economics." Economic Inquiry, April 1993, 31(2), pp. 245-61.
31. Tenorio, Rafael. "Revenue Equivalence and Bidding Behavior in a Multi-Unit Auction Market: An Empirical Analysis." Review of Economics and Statistics, May 1993, 75(2), pp. 302-14.
32. Umlauf, Steven R. "An Empirical Study of the Mexican Treasury Bill Auction." Journal of Financial Economics, June 1993, 33(3), pp. 313-240.
33. Vickrey, William. "Counterspeculation, Auctions, and Competitive Sealed Tenders." Journal of Finance, 16(1), March 1961, pp. 8-37.
34. Wolfram, Catherine D. "Strategic Bidding in a Multiunit Auction: An Empirical Analysis of Bids to Supply Electricity in England and Wales." Rand Journal of Economics, Winter 1998, 29(4), pp. 703-25.
35. WR Hambrecht+Co. OpenIPO Web site, 〈http:// www.openipo.com/〉.