Procurement auctions with avoidable fixed costs: an experimental approach
Author
Abstract
Suggested Citation
Download full text from publisher
References listed on IDEAS
- Erev, Ido & Roth, Alvin E, 1998. "Predicting How People Play Games: Reinforcement Learning in Experimental Games with Unique, Mixed Strategy Equilibria," American Economic Review, American Economic Association, vol. 88(4), pages 848-881, September.
- Anthony M. Kwasnica & John O. Ledyard & Dave Porter & Christine DeMartini, 2005.
"A New and Improved Design for Multiobject Iterative Auctions,"
Management Science, INFORMS, vol. 51(3), pages 419-434, March.
- DeMartini, Christine & Kwasnica, Anthony M. & Ledyard, John O. & Porter, David, 1998. "A New and Improved Design For Multi-Object Iterative Auctions," Working Papers 1054, California Institute of Technology, Division of the Humanities and Social Sciences.
- Paul Klemperer, 2002.
"What Really Matters in Auction Design,"
Journal of Economic Perspectives, American Economic Association, vol. 16(1), pages 169-189, Winter.
- Professor Paul Klemperer, 2000. "What Really Matters in Auction Design," Microeconomics 0004008, University Library of Munich, Germany.
- Klemperer, Paul, 2000. "What Really Matters in Auction Design," CEPR Discussion Papers 2581, C.E.P.R. Discussion Papers.
- Scott E. Page, 1996. "Two measures of difficulty (*)," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 8(2), pages 321-346.
- Charles R. Plott, 1997.
"Laboratory Experimental Testbeds: Application to the PCS Auction,"
Journal of Economics & Management Strategy, Wiley Blackwell, vol. 6(3), pages 605-638, September.
- Plott, Charles R., 1996. "Laboratory Experimental Testbeds: Application to the PCS Auction," Working Papers 957, California Institute of Technology, Division of the Humanities and Social Sciences.
- Peter Cramton & John McMillan & Paul Milgrom & Bradley Miller & Bridger Mitchell & Daniel Vincent & Robert Wilson, 1998. "Simultaneous Ascending Auctions with Package Bidding," Papers of Peter Cramton 98cra2, University of Maryland, Department of Economics - Peter Cramton.
- Cramton, Peter & Stoft, Steven, 2007.
"Why We Need to Stick with Uniform-Price Auctions in Electricity Markets,"
The Electricity Journal, Elsevier, vol. 20(1), pages 26-37.
- Peter Cramton & Steven Stoft, 2007. "Why We Need to Stick with Uniform-Price Auctions in Electricity Markets," Papers of Peter Cramton 07cpm, University of Maryland, Department of Economics - Peter Cramton, revised 2007.
- John O. Ledyard & Mark Olson & David Porter & Joseph A. Swanson & David P. Torma, 2002.
"The First Use of a Combined-Value Auction for Transportation Services,"
Interfaces, INFORMS, vol. 32(5), pages 4-12, October.
- Ledyard, John O. & Olson, Mark & Porter, David & Swanson, Joseph A. & Torma, David P., 2000. "The First Use of a Combined Value Auction for Transportation Services," Working Papers 1093, California Institute of Technology, Division of the Humanities and Social Sciences.
- Ausubel Lawrence M & Milgrom Paul R, 2002.
"Ascending Auctions with Package Bidding,"
The B.E. Journal of Theoretical Economics, De Gruyter, vol. 1(1), pages 1-44, August.
- Lawrence M. Ausubel & Paul Milgrom, 2002. "Ascending Auctions with Package Bidding," Working Papers 02004, Stanford University, Department of Economics.
- Cramton, Peter, 1998.
"Ascending auctions,"
European Economic Review, Elsevier, vol. 42(3-5), pages 745-756, May.
- Peter Cramton, 1998. "Ascending Auctions," Papers of Peter Cramton 98eer, University of Maryland, Department of Economics - Peter Cramton, revised 28 Jul 1998.
- Yechiam, Eldad & Busemeyer, Jerome R., 2008. "Evaluating generalizability and parameter consistency in learning models," Games and Economic Behavior, Elsevier, vol. 63(1), pages 370-394, May.
- Van Boening, Mark V & Wilcox, Nathaniel T, 1996. "Avoidable Cost: Ride a Double Auction Roller Coaster," American Economic Review, American Economic Association, vol. 86(3), pages 461-477, June.
- Kenneth E. Train & Daniel L. McFadden & Moshe Ben-Akiva, 1987. "The Demand for Local Telephone Service: A Fully Discrete Model of Residential Calling Patterns and Service Choices," RAND Journal of Economics, The RAND Corporation, vol. 18(1), pages 109-123, Spring.
- Colin Camerer & Teck-Hua Ho, 1999. "Experience-weighted Attraction Learning in Normal Form Games," Econometrica, Econometric Society, vol. 67(4), pages 827-874, July.
- Michael H. Rothkopf & Aleksandar Pekev{c} & Ronald M. Harstad, 1998. "Computationally Manageable Combinational Auctions," Management Science, INFORMS, vol. 44(8), pages 1131-1147, August.
- Train,Kenneth E., 2009.
"Discrete Choice Methods with Simulation,"
Cambridge Books,
Cambridge University Press, number 9780521747387, November.
- Kenneth Train, 2003. "Discrete Choice Methods with Simulation," Online economics textbooks, SUNY-Oswego, Department of Economics, number emetr2.
- Train,Kenneth E., 2009. "Discrete Choice Methods with Simulation," Cambridge Books, Cambridge University Press, number 9780521766555, November.
- Elena Katok & Alvin E. Roth, 2004. "Auctions of Homogeneous Goods with Increasing Returns: Experimental Comparison of Alternative "Dutch" Auctions," Management Science, INFORMS, vol. 50(8), pages 1044-1063, August.
- Urs Fischbacher, 2007. "z-Tree: Zurich toolbox for ready-made economic experiments," Experimental Economics, Springer;Economic Science Association, vol. 10(2), pages 171-178, June.
- Michael H. Rothkopf, 2007. "Thirteen Reasons Why the Vickrey-Clarke-Groves Process Is Not Practical," Operations Research, INFORMS, vol. 55(2), pages 191-197, April.
- Daniel Kahneman & Jack L. Knetsch & Richard H. Thaler, 1991. "Anomalies: The Endowment Effect, Loss Aversion, and Status Quo Bias," Journal of Economic Perspectives, American Economic Association, vol. 5(1), pages 193-206, Winter.
- Terry Jones & Stephanie Forrest, 1995. "Fitness Distance Correlation as a Measure of Problem Difficulty for Genetic Algorithms," Working Papers 95-02-022, Santa Fe Institute.
- Page, Scott E, 1996. "Two Measures of Difficulty," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 8(2), pages 321-346, August.
- Goeree, Jacob K. & Holt, Charles A., 2010. "Hierarchical package bidding: A paper & pencil combinatorial auction," Games and Economic Behavior, Elsevier, vol. 70(1), pages 146-169, September.
- Hobbs, Benjamin F. & Rothkopf, Michael H. & Hyde, Laurel C. & O'Neill, Richard P., 2000. "Evaluation of a Truthful Revelation Auction in the Context of Energy Markets with Nonconcave Benefits," Journal of Regulatory Economics, Springer, vol. 18(1), pages 5-32, July.
- Groves, Theodore, 1973. "Incentives in Teams," Econometrica, Econometric Society, vol. 41(4), pages 617-631, July.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Elmaghraby, Wedad J. & Larson, Nathan, 2012. "Explaining deviations from equilibrium in auctions with avoidable fixed costs," Games and Economic Behavior, Elsevier, vol. 76(1), pages 131-159.
- Chen, Yan & Takeuchi, Kan, 2010. "Multi-object auctions with package bidding: An experimental comparison of Vickrey and iBEA," Games and Economic Behavior, Elsevier, vol. 68(2), pages 557-579, March.
- Gediminas Adomavicius & Alok Gupta & Mochen Yang, 2022. "Bidder Support in Multi-item Multi-unit Continuous Combinatorial Auctions: A Unifying Theoretical Framework," Information Systems Research, INFORMS, vol. 33(4), pages 1174-1195, December.
- Xu, Su Xiu & Huang, George Q., 2014. "Efficient auctions for distributed transportation procurement," Transportation Research Part B: Methodological, Elsevier, vol. 65(C), pages 47-64.
- Mishra, Debasis & Parkes, David C., 2007.
"Ascending price Vickrey auctions for general valuations,"
Journal of Economic Theory, Elsevier, vol. 132(1), pages 335-366, January.
- MISHRA, Debasis & PARKES, David C., 2005. "Ascending price Vickrey auctions for general valuations," LIDAM Discussion Papers CORE 2005052, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Chernomaz, Kirill & Levin, Dan, 2012. "Efficiency and synergy in a multi-unit auction with and without package bidding: An experimental study," Games and Economic Behavior, Elsevier, vol. 76(2), pages 611-635.
- Kemal Guler & Martin Bichler & Ioannis Petrakis, 2016. "Ascending Combinatorial Auctions with Risk Averse Bidders," Group Decision and Negotiation, Springer, vol. 25(3), pages 609-639, May.
- Pallab Sanyal, 2016. "Characteristics and Economic Consequences of Jump Bids in Combinatorial Auctions," Information Systems Research, INFORMS, vol. 27(2), pages 347-364, June.
- G. Anandalingam & Robert W. Day & S. Raghavan, 2005. "The Landscape of Electronic Market Design," Management Science, INFORMS, vol. 51(3), pages 316-327, March.
- R. H. Kwon & G. Anandalingam & L. H. Ungar, 2005. "Iterative Combinatorial Auctions with Bidder-Determined Combinations," Management Science, INFORMS, vol. 51(3), pages 407-418, March.
- Anthony M. Kwasnica & Katerina Sherstyuk, 2013.
"Multiunit Auctions,"
Journal of Economic Surveys, Wiley Blackwell, vol. 27(3), pages 461-490, July.
- Anthony M. Kwasnica & Katerina Sherstyuk, 2013. "Multi-Unit Auctions," Working Papers 201301, University of Hawaii at Manoa, Department of Economics.
- Jawad Abrache & Teodor Crainic & Michel Gendreau & Monia Rekik, 2007. "Combinatorial auctions," Annals of Operations Research, Springer, vol. 153(1), pages 131-164, September.
- Aleksandar Pekev{c} & Michael H. Rothkopf, 2003. "Combinatorial Auction Design," Management Science, INFORMS, vol. 49(11), pages 1485-1503, November.
- Anthony M. Kwasnica & John O. Ledyard & Dave Porter & Christine DeMartini, 2005.
"A New and Improved Design for Multiobject Iterative Auctions,"
Management Science, INFORMS, vol. 51(3), pages 419-434, March.
- DeMartini, Christine & Kwasnica, Anthony M. & Ledyard, John O. & Porter, David, 1998. "A New and Improved Design For Multi-Object Iterative Auctions," Working Papers 1054, California Institute of Technology, Division of the Humanities and Social Sciences.
- Lawrence M. Ausubel & Paul Milgrom, 2004.
"Ascending Proxy Auctions,"
Discussion Papers
03-035, Stanford Institute for Economic Policy Research.
- Lawrence M. Ausubel & Paul Milgrom, 2005. "Ascending Proxy Auctions," Levine's Bibliography 122247000000000785, UCLA Department of Economics.
- Committee, Nobel Prize, 2020. "Improvements to auction theory and inventions of new auction formats," Nobel Prize in Economics documents 2020-2, Nobel Prize Committee.
- Vohra, Rakesh V., 2015. "Combinatorial Auctions," Handbook of Game Theory with Economic Applications,, Elsevier.
- Pickl, Matthias & Wirl, Franz, 2011. "Auction design for gas pipeline transportation capacity--The case of Nabucco and its open season," Energy Policy, Elsevier, vol. 39(4), pages 2143-2151, April.
- Munro, David R. & Rassenti, Stephen J., 2019.
"Combinatorial clock auctions: Price direction and performance,"
Games and Economic Behavior, Elsevier, vol. 117(C), pages 195-217.
- David R. Munro & Stephen Rassenti, 2011. "Combinatorial Clock Auctions: Price Direction and Performance," Working Papers 11-19, Chapman University, Economic Science Institute.
- Ronald M. Harstad & Aleksandar Saša Pekeč, 2008. "Relevance to Practice and Auction Theory: A Memorial Essay for Michael Rothkopf," Interfaces, INFORMS, vol. 38(5), pages 367-380, October.
More about this item
Keywords
Auctions; Experimental; Procurement; Synergies; Asymmetric Bidders; Learning; Optimization errors;All these keywords.
JEL classification:
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
- D44 - Microeconomics - - Market Structure, Pricing, and Design - - - Auctions
- D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:32163. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.