An experimental examination of the Walrasian tatonnement mechanism

Article Abstract:

The efficiency and competitive characteristics of a computerized multiunit Walrasian tatonnement are analyzed. Versions on the comparison of with or without a dynamic improvement rule and with or without provided information on the order flow resulted to competitive prices, but are less efficient than the continuous double action. Only the full-information, no-improvement-rule version of the tatonnement procedure approximates the efficiency of the double auction.

Walrasian model, Comparative economics

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Allocating priority with auctions: an experimental analysis

Article Abstract:

A comparative analysis of priority service and proportional rationing as implemented in the English and uniform price sealed bid auctions is conducted. Results show that under either auction proportional rationing performed well when large curtailments are involved but priority service is more efficient than proportional rationing in resource allocations. Between the two auctions, priority service performed better under the sealed bid system than the English.

Industrial development, Industrialization, Resource allocation

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Theory, experiment and the federal communications commission spectrum auctions

Article Abstract:

Simultaneous multi-round auction (SMA) is used by the federal communications commission (FCC) to assign spectrum licenses. A comparative study, of SMA with combinatorial auction outperforms the SMA, when license values are superadditive.

United States, Models, United States. Federal Communications Commission, Economic research, Powers and duties, Information management, Information accessibility

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