Dear colleagues,

The Department of Economics cordially invites you to the WU Economic Research Seminar (Department Seminar) on Wednesday, November 28, with

Martin Kocher

(University of Vienna & IHS)

"Time pressure in bidding"

Abstract:

We analyze the impact of time pressure on bidding behavior in different auction formats. The experimental design also varies the way how time pressure allows for updating bids. Not surprisingly, our results indicate that time pressure reduces the frequency of equilibrium bids in second price auctions. In first price auctions, time pressure however leads to less overbidding and thus bids closer to the Nash equilibrium. We discuss mechanisms behind our main results.

Time and place: Wednesday, November 28, 4.30 – 6.00 p.m., Campus WU, Welthandelsplatz 1, 1020 Vienna, building D4, entrance A, 2^nd floor, Department meeting room 2.008.

With best regards,

Harald Oberhofer

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Univ.-Prof. Dr. Harald Oberhofer

Institute for International Economics

WU Vienna University of Economics and Business

Phone: +43/1/31336-4984

Fax: +43/1/31336-4984

Email: harald.oberhofer@wu.ac.at

Webpage: https://www.wu.ac.at/ie/mitarbeiter/harald-oberhofer/

Austrian Institute of Economic Research (WIFO)

Phone: +43/1/7982601-468

Fax: +43/1/7989386

Email: harald.oberhofer@wifo.ac.at

Webpage: http://www.wifo.ac.at/harald_oberhofer