Using Field Experiments to Test Equivalence Between Auction Formats: Magic on the Internet
通过互联网拍卖收藏卡片的实地实验,检验维克里预测的拍卖形式等价性,发现荷兰式拍卖比第一价格密封拍卖收入高30%,违背理论预测且与实验室结果相反,而英式与第二价格密封拍卖收入大致相等。
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.