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- W1567665933 abstract "If a government auctions the right to market a good, continuity is likely to be of significant importance. In a laboratory experiment, we compare the effects of bidders' limited liability in the first-price sealed-bid auction and the English auction in a common value setting. Our data strongly reject our theoretical prediction that the English auction leads to less aggressive bids and fewer bankruptcies than the first-price sealed-bid auction. X-cursedness gives a robust explanation of our experimental observations, in contrast to risk aversion and asymmetric equilibria." @default.
- W1567665933 created "2016-06-24" @default.
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- W1567665933 date "2011-01-01" @default.
- W1567665933 modified "2023-09-24" @default.
- W1567665933 title "Keeping Out Trojan Horses: Auctions and Bankruptcy in the Laboratory" @default.
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- W1567665933 doi "https://doi.org/10.2139/ssrn.1759221" @default.
- W1567665933 hasPublicationYear "2011" @default.
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