Bidding Behavior in a Multi-attribute First-price Auction
Technical rept. 1 Oct 2002-30 Sep 2004
NAVY PERSONNEL RESEARCH STUDIES AND TECHNOLOGY MILLINGTON TN
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This research examines bidding behavior in a sealed bid first price multi-attribute auction environment. The auction environment is designed to allow subjects to bid on multiple attributes, where an attribute is analogous to a component of a compensation package. Preliminary findings in base case experiments reveal that over successive rounds bids converge to subjects reserve price, independent of the number of sellers in a market.
- Economics and Cost Analysis
- Operations Research