Auctions and Fair Division Games - a Cross-Country Bidding Experiment
Posted: 10 Jan 2002
This paper presents the results of experiments carried out in two countries, Bulgaria and Germany, with different allocation rules (first- vs. second-price - auction vs. fair division game). The data analysis of the sealed-bid, private value-contests compares the bid functions, some features of the bidding behavior as well as the efficiency rates and the price expectations in both countries. The main results obtained in Germany were replicated by the Bulgarian participants.
Keywords: auctions, fair division, cross-country comparison
JEL Classification: D44, C92, O57
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