More on the dynamic Vickrey mechanism for multi-unit auctions : an experimental study on the emission permits initial auction

Botelho, Anabela; Pinto, Lígia; Fernandes, Maria Eduarda

http://hdl.handle.net/10400.8/2759

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Authors

Botelho, Anabela

Pinto, Lígia

Fernandes, Maria Eduarda

Abstract(s)

The purpose of this paper is to contribute to the multiple-units auction literature, by testing the performance of the dynamic Vickrey auction (the Ausubel model), in an experimental setting, representing the functioning of an emission permits market with an Ausubel auction for the initial allocation of permits. Other features of the experiment include the possibility of banking and the inclusion of uncertainty, and the parameters were set so as to replicate an environment similar to the EU-ETS market (...)