Powered by OpenAIRE graph
Found an issue? Give us feedback
addClaim

Classroom Experiments of Auctions

Authors: Hanqing Qiu;

Classroom Experiments of Auctions

Abstract

A few non-computerized classroom auctions of an indivisible object were presented and analyzed. Two of the auctions were played in a classroom of around thirty students. Both auctions have big possibilities of various bids being equal, the effect of which is that, the played Vickery auction is revenue-equivalent to a quite uncommon variation of the ascending-bid auction where defaulting and the auctioneer's calling strategy play vital roles. I examine their revenue-equivalences based on two slightly modified intuitive assumptions of Haile and Tamer: bidders neither risk to pay more than their valuations nor risk to let an opponent win at a price less than or equal to their valuations. The results of the experiments demonstrate the inconsistency of the students' goals.

  • BIP!
    Impact byBIP!
    selected citations
    These citations are derived from selected sources.
    This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
    0
    popularity
    This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
    Average
    influence
    This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
    Average
    impulse
    This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
    Average
Powered by OpenAIRE graph
Found an issue? Give us feedback
selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
0
Average
Average
Average
Upload OA version
Are you the author of this publication? Upload your Open Access version to Zenodo!
It’s fast and easy, just two clicks!