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Gradual Bidding in Ebay-Like Auctions
(Economic Research Initiatives at Duke (ERID), 2013-09-05)
This paper shows that in online auctions like eBay, if bidders can only place bids at random times, then many di fferent equilibria arise besides truthful bidding, despite the option to leave proxy bids. These equilibria ...
How Individual Preferences Get Aggregated in Groups - An Experimental Study
(Economic Research Initiatives at Duke (ERID), 2013-09-19)
This paper experimentally investigates how individual preferences, through unrestricted deliberation, get aggregated into a group decision in two contexts: reciprocating gifts, and choosing between lotteries. In both contexts ...