English, Article, Journal or magazine article edition: A comparison of Candle Auctions and Hard Close Auctions with Common Values Sascha Füllbrunn

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Bookmark: http://trove.nla.gov.au/version/6766
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • A comparison of Candle Auctions and Hard Close Auctions with Common Values
Author
  • Sascha Füllbrunn
Physical Description
  • preprint
Notes
  • With this study, we contribute to the literature of auction design by presenting a new auction format: the Candle auction, a popular auction in the Middle Ages. Considering a common value framework, we theoretically and experimentally point out that the Candle auction, where bidding is allowed until a stochastic deadline, yields a better outcome to the seller than the Hard Close auction, the popular eBay online auction format.
  • online auctions, market design, experimental economics, common value
  • RePEc:mag:wpaper:09019
Language
  • English
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