Abstract
We compare bidding behavior in a standard second-price auction and a second-price auction tournament without information on relative rankings. Our results suggest that people bid more sincerely in the tournament setting with a non-linear payoff schedule and incomplete information.
Original language | English (US) |
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Pages (from-to) | 99-107 |
Number of pages | 9 |
Journal | Economics Letters |
Volume | 92 |
Issue number | 1 |
DOIs | |
State | Published - Jul 2006 |
Externally published | Yes |
Keywords
- Auction
- Experiments
- Tournaments