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Providing Multiple Units of a Public Good Using Individualized Price Auctions: Experimental Evidence

机译:使用个体化价格拍卖提供多个公共物品单位的实验证据

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We present experimental results on the provision of multiple units of a threshold public good using individualized price auctions (IPA). The IPA asks each individual to pay the same price for each unit provided. The individual’s price can be either one’s bid or one’s pivotal price on the marginal unit provided by the group. The public good is provided in a sequential manner leveraging the provision point mechanism. We also investigate two market clearing rules: the ascending-unit rule, where the auctioneer determines the provision outcome starting from the first unit, until no more units can be provided; and the descending-unit rule, where the auctioneer determines the provision outcome starting from the last available unit, and provides as many units as possible. Experimental results show that the IPA approaches can increase the realized social surplus compared to the traditional pay-your-bids approach by almost a third.
机译:我们使用个性化价格拍卖(IPA)来提供多个阈值公共物品的实验结果。 IPA要求每个人为提供的每个单元支付相同的价格。个人的价格可以是出价,也可以是该组提供的边际单位的关键价格。利用提供点机制以顺序方式提供公共物品。我们还研究了两个市场清算规则:上升单位规则,拍卖师从第一个单位开始确定准备结果,直到无法再提供更多单位为止;以及降序单位规则,拍卖师从最后一个可用单位开始确定供应结果,并提供尽可能多的单位。实验结果表明,与传统的“按需出价”方法相比,《近期行动计划》方法可以使已实现的社会剩余增加近三分之一。

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