Mainstream analysis of economic behavior assumes that economic incentives can shape
behavior even when individual agents have limited understanding of the environment (see …

Economic engineering is the science of designing real-world institutions and mechanisms
that align individual incentives and behavior with the underlying goals. This paper discusses …

This paper demonstrates theoretically and experimentally that in first-price auctions
overbidding with respect to the risk neutral Nash equilibrium might be driven from …

Mechanical Turk (MTurk), an online labor market run by Amazon, provides a web platform
for conducting behavioral experiments; the site offers immediate and inexpensive access to …

We investigate the effect of regret-related feedback information on bidding behavior in
sealed-bid first-price auctions. Two types of regret are possible in this auction format. A …

Online auctions present unique characteristics in the consumer decision-making process
that raise new issues related to consumer shopping behaviors in auction-based purchases …

Five stationary concepts for completely mixed 2x2-games are experimentally compared:
Nash equilibrium, quantal response equilibrium, action-sampling equilibrium, payoff …

Reverse auctions are fast becoming the standard for many procurement activities. In the
past, the majority of such auctions have been solely price based, but increasingly attributes …

Laboratory experiments give researchers a great deal of control, making them useful for
testing analytical models. In this monograph I discuss methodological issues in designing …

The economic literature on online auctions is rapidly growing because of the enormous
amount of freely available field data. Moreover, numerous innovations in auction-design …