Learning and the possibility of losing own money reduce overbidding: Delayed payment in experimental auctions
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DOI: 10.1371/journal.pone.0213568
Abstract: In this study, we designed a delayed payment mechanism in laboratory second price auctions (SPAs), under which subjects received a cash endowment two weeks after the experiment day and had to use their own money… read more here.
Keywords: mechanism; payment; experiment day; liquidity constraints ... See more keywords