Using field experiments to test equivalence between auction formats: Magic on the internet

David Reiley ()

Framed Field Experiments from The Field Experiments Website

Abstract: William Vickrey's predicted equivalences between first-price sealed-bid and Dutch auctions, and between second-price sealed-bid and English auctions, are tested using field experiments that auctioned off collectible trading cards over the Internet. The results indicate that the Dutch auction produces 30-percent higher revenues than the first-price auction format, a violation of the theoretical prediction and a reversal of previous laboratory results, and that the English and second-price formats produce roughly equivalent revenues.

Date: 1999
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Journal Article: Using Field Experiments to Test Equivalence between Auction Formats: Magic on the Internet (1999)
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