| Publication type: | Article in scientific journal |
| Type of review: | Peer review (publication) |
| Title: | Auction format and auction sequence in multi-item multi-unit auctions : an experimental study |
| Authors: | Betz, Regina Greiner, Ben Schweitzer, Sascha Seifert, Stefan |
| DOI: | 10.1111/ecoj.12403 |
| Published in: | The Economic Journal |
| Volume(Issue): | 127 |
| Issue: | 605 |
| Page(s): | 351 |
| Pages to: | 371 |
| Issue Date: | 2017 |
| Publisher / Ed. Institution: | Oxford University Press |
| ISSN: | 1468-0297 0013-0133 |
| Language: | English |
| Subjects: | Emissions trading; Auction; Experiment |
| Subject (DDC): | 380: Transportation |
| Abstract: | We experimentally study the effect of auction format (sealed-bid vs. closed clock vs. open clock) and auction sequence (simultaneous vs. sequential) on bidding behaviour and auction outcomes in auctions of multiple related multi-unit items. Prominent field applications are the sale of emission permits, fishing rights, and electricity. We find that, when auctioning simultaneously, clock auctions outperform sealed-bid auctions in terms of efficiency and revenues. This advantage disappears when the items are auctioned sequentially. In addition, auctioning sequentially has positive effects on total revenues across all auction formats, resulting from fiercer competition on the item auctioned first. |
| URI: | https://digitalcollection.zhaw.ch/handle/11475/6946 |
| Fulltext version: | Published version |
| License (according to publishing contract): | Licence according to publishing contract |
| Departement: | School of Management and Law |
| Organisational Unit: | Center for Energy and Environment (CEE) |
| Appears in collections: | Publikationen School of Management and Law |
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Betz, R., Greiner, B., Schweitzer, S., & Seifert, S. (2017). Auction format and auction sequence in multi-item multi-unit auctions : an experimental study. The Economic Journal, 127(605), 351–371. https://doi.org/10.1111/ecoj.12403
Betz, R. et al. (2017) ‘Auction format and auction sequence in multi-item multi-unit auctions : an experimental study’, The Economic Journal, 127(605), pp. 351–371. Available at: https://doi.org/10.1111/ecoj.12403.
R. Betz, B. Greiner, S. Schweitzer, and S. Seifert, “Auction format and auction sequence in multi-item multi-unit auctions : an experimental study,” The Economic Journal, vol. 127, no. 605, pp. 351–371, 2017, doi: 10.1111/ecoj.12403.
BETZ, Regina, Ben GREINER, Sascha SCHWEITZER und Stefan SEIFERT, 2017. Auction format and auction sequence in multi-item multi-unit auctions : an experimental study. The Economic Journal. 2017. Bd. 127, Nr. 605, S. 351–371. DOI 10.1111/ecoj.12403
Betz, Regina, Ben Greiner, Sascha Schweitzer, and Stefan Seifert. 2017. “Auction Format and Auction Sequence in Multi-Item Multi-Unit Auctions : An Experimental Study.” The Economic Journal 127 (605): 351–71. https://doi.org/10.1111/ecoj.12403.
Betz, Regina, et al. “Auction Format and Auction Sequence in Multi-Item Multi-Unit Auctions : An Experimental Study.” The Economic Journal, vol. 127, no. 605, 2017, pp. 351–71, https://doi.org/10.1111/ecoj.12403.
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