Public vs. Secret Reserve Prices in Auctions: Evidence from Combining Field and Lab Experiments
29 Pages Posted: 20 Apr 2016 Last revised: 10 Jun 2016
Date Written: April 18, 2016
In this paper, we report both field and laboratory experimental results on the effects of setting public versus private reserve prices in ascending auctions. The field experiments were performed with a large online used automobile seller. In addition to providing a check on the results of the field experiment, we use laboratory experiments to implement an important treatment that we could not use in our field experiments.
We find no evidence in the field or in the lab of an effect of reserve price presentation on auction revenues.
Keywords: auctions, reserve prices, field experiments, combining field and laboratory experiments, experimental economics
JEL Classification: C93, C91, D44
Suggested Citation: Suggested Citation