Measuring the impact of information aggregation mechanisms: An experimental investigation

• Published in: Journal of economic behavior & organization Vol. 78; no. 3; pp. 302 - 318
• Main Authors: Bennouri, Moez, Gimpel, Henner, Robert, Jacques
• Format: Journal Article
• Language: English
• Published: Amsterdam Elsevier B.V 01.05.2011; Elsevier; Elsevier Sequoia S.A
• Series: Journal of Economic Behavior & Organization
• Subjects: Aggregate analysis; Aggregation; Auction; Auctions; Auktionstheorie; Bids; Bonds; Börsengang; Cheap-talk; domain_shs.eco.fin; Economics and Finance; Effectiveness studies; Humanities and Social Sciences; Information; Information aggregation; Information gathering; Information management; Informationsökonomik; Initial public offering; Initial public offerings; Laboratories; Market; Market design; Market design Information aggregation Cheap-talk Auction Initial public offering; Sales; Test; Treasury bonds; Information aggregation; Initial public offering; D44; Auction; Market design; C91; G14; Cheap-talk; D83; D82

► We compare the effectiveness of market-based and cheap-talk information aggregation mechanisms (IAM). ► In a laboratory experiment, we study how information provided by IAMs interacts with private and public information and affect bidding behavior in a multi-unit common-value uniform-price auction...