Bidding Behavior in a Multi-attribute First-price Auction

摘要

This research examines bidding behavior in a sealed bid first price multi-attribute auction environment. The auction environment is designed to allow subjects to bid on multiple attributes, where an attribute is analogous to a component of a compensation package. Preliminary findings in base case experiments reveal that over successive rounds bids converge to subject's reserve price, independent of the number of sellers in a market.