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How to run an experimental auction: A review of recent advances

Author

Listed:
  • Canavari, Maurizio
  • Drichoutis, Andreas C.
  • Lusk, Jayson L.
  • Nayga, Rodolfo
Abstract
In this paper, we review the recent advances in the literature of experimental auctions and provide practical advice and guidelines for researchers. We focus on issues related to randomization to treatment and causal identification of treatment effects, on design issues such as selection between different elicitation formats, multiple auction groups in a single session, and house money effects. We also discuss sample size issues related to recent trends about pre-registration and pre-analysis plans. We then present the pros and cons of moving auction studies from the lab to the field and review the recent literature on behavioral factors that have been identified as important for auction outcomes.

Suggested Citation

  • Canavari, Maurizio & Drichoutis, Andreas C. & Lusk, Jayson L. & Nayga, Rodolfo, 2018. "How to run an experimental auction: A review of recent advances," MPRA Paper 89715, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:89715
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    More about this item

    Keywords

    auctions; randomization; sample size; pre-registration; field experiments; behavioral factors;
    All these keywords.

    JEL classification:

    • C57 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Econometrics of Games and Auctions
    • C90 - Mathematical and Quantitative Methods - - Design of Experiments - - - General
    • D44 - Microeconomics - - Market Structure, Pricing, and Design - - - Auctions

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