Template-Type:ReDIF-Paper 1.0  
Title:Dominant Strategy Adoption, Efficiency, and Bidders' Experience with Pricing Rules
Author-Name:Harstad, Ronald M. 
Classification-JEL:
Keywords:
Abstract:Truthful revelation is a dominant strategy in both second-price and English (oral ascending bid)
	private-values auctions. Controlled observations of English auctions are largely consistent with the dominant strategy
	prediction, but laboratory second-price auctions exhibit substantial and persistent overbidding, even with prior
	experience. The experience of having bid in an English auction has a significant effect, moving second-price bidders
	toward the dominant strategy. Two treatments attempting to isolate facets of the lessons from English auction
	participation are explored.
Length: pages
Creation-Date: 1996-01
Revision-Date: 
Handle: RePEc:bon:bonsfb:357