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Journal of Finance Vol. 39 No. 4 1984

Theory and Behavior of Multiple Unit Discriminative Auctions

James C. Cox; Vernon L. Smith; James M. Walker

U.S. National Science Foundation

Abstract

This paper reports the results of controlled experiments designed to test the Harris‐Raviv generalization of the Vickrey theory of bidding in multiple unit discriminative auctions. The paper also discusses further development of the theory—in a way suggested by the experimental results—to include bidders with distinct risk preferences.

DOI
10.1111/j.1540-6261.1984.tb03888.x
Volume
39
Issue
4
Pages
983-1010
Language
en
Sources
openalex crossref

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