资源描述：
《experimental economics auctions》由会员上传分享，免费在线阅读，更多相关内容在工程资料-天天文库。
1、AuctionsJarsofcoins•Twojarsfilledwithmoneyareavailableforexamination.Bothjarsareidentical,andhavethesameamountofmoney.•Examineoneofthejars(withoutopeningit)andwritedownyourestimateofhowmuchmoneyisinit.Donotsharethisestimatewithanyoneelse.2Biddingforajarofmoney•I’ll
2、auctionoffthevalueofthemoneyinajar–(Asopposedtotheactualcontentsofthejar,whichmightnotbeworthasmuchasthevalueineasier-to-carryform.)•Threedifferentauctionrules,oneofwhichwillberandomlychosentobetheactualallocationmechanism.•Everyoneshouldhaveacardonwhichtosubmitbid
3、s:writeyournameintheupperleftcorner,andbelowthatwriteyourestimateofthevalueofthemoneyinthejar(thisisnotabid,it’sjustsowecantalkaboutitlater).Labelyourestimateassuch:i.e.Estimate=$xx.xx3Auctionrules1:Firstprice,sealedbidauction•Thewinningbidwillbethehighestbidsubmit
4、ted–incaseoftiesoneofthebidderstiedforhighestwillbeselectedatrandom.•Thewinningbidderwillpaythebid,andreceivetheamountinthejar.•Pleasewritedownyourbid,labelingit“Auction1:1stpricebid=$xx.xx”4Auctionrules2:Secondprice,sealedbidauction•Thewinningbidwillbethehighestbi
5、dsubmitted–incaseoftiesoneofthebidderstiedforhighestwillbeselectedatrandom.•Thewinningbidderwillpaytheamountofthesecondhighestbid,andreceivetheamountinthejar.•Pleasewritedownyourbid,labelingit“Auction2:2ndpricebid=$xx.xx”•We’llnowcollectyourbiddingcards.5Auctionrul
6、es3:Ascending“English,thermometer”auction•Iwillactastheauctioneer.•Iwillcalloutanascendingsequenceofprices,in$0.50increments,startingat$0.00.•Ifyouwishtobid,raiseyourhand.•Keepyourhandupaslongasyouarewillingtopaythecurrentpricetoreceivetheamountinthejar.•Putyourhan
7、ddownassoonasyouarenolongerwillingtopay.(Onceyouloweryourhandyouhavestoppedbiddingandmaynotstartagainatahigherprice.)•Whenonlyonepersonhashishandraisedtheauctionends,andthatpersonbuystheamountinthejarandpaysthefinalauctionprice.–Ifatsomepriceeveryonestopsbidding,on
8、eofthefinalbiddersatthepreviousincrementwillberandomlychosentobethehighbidderatthatprice6Payoffs•Randomchoiceoflotteries•Ajarcontained…7Auctionis
