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Social and Behavioral Sciences Commons™
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Full-Text Articles in Social and Behavioral Sciences
An Experimental Investigation Of Procurement Auctions With Asymmetric Sellers, John Aloysius, Cary A. Deck, Li Hao, Ryan French
An Experimental Investigation Of Procurement Auctions With Asymmetric Sellers, John Aloysius, Cary A. Deck, Li Hao, Ryan French
ESI Publications
Electronic reverse auctions are a commonly used procurement mechanism. Research to date has focused on suppliers who are ex ante symmetric in that their costs are drawn from a common distribution. However, in many cases a seller's range of potential costs depends on their own operations, location, or economies of scale and scope. Thus, understanding how different bidder types impact auction outcomes is key when designing an auction. This paper reports the results of the first controlled laboratory experiment designed to compare prices between first-price and second-price procurement auctions for homogeneous goods when seller cost types are asymmetric and the …
Bringing A Natural Experiment Into The Laboratory: The Measurement Of Individual Risk Attitudes, Zuzana Brokesova, Cary Deck, Jana Peliova
Bringing A Natural Experiment Into The Laboratory: The Measurement Of Individual Risk Attitudes, Zuzana Brokesova, Cary Deck, Jana Peliova
ESI Working Papers
Controlled laboratory experiments have become a generally accepted method for studying economic behavior, but there are two issues that regularly arise with such work. The first pertains to the ability to generalize experimental results outside the laboratory. While laboratory experiments are typically designed to mimic naturally occurring situations, ceteris paribus comparisons are rare. Using data from a promotional campaign by a bank and a matching laboratory experiment, we find similar patterns of risk taking behavior controlling for gender and age. The second issue pertains to the impact that the payment procedure in an experiment has on observed risk taking behavior. …