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We compare auctions with bidder qualification before or after the bidding process. We show that although post-auction qualification is more efficient, the auctioneer prefers pre-auction qualification when bidders’ qualification costs are high.
In this article we experimentally investigate reverse multi-unit Dutch auctions in which bidders compete to sell their single unit to a buyer who wants to purchase several objects. Our study yields three insights: (i) bids are substantially higher than Nash equilibrium bids predicted by standard economic theory; (ii) these higher-than-predicted prices gradually decline in later periods; and (iii)...
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