An Experimental Study of the Impact of Information Feedback on Combinatorial Auction of Emission Permits

Abstract

Abstract:

This paper uses methods of experimental economics to study the impact of different types of information feedback on combinatorial auction results of emission permits, and we analyze the results from three dimensions:distribution efficiency, total revenue of the bidders and the government revenue. The results show that feedback of demand information can increase the auction efficiency, and more of the overall social surplus resulting from the increase in auction efficiency is allocated to the bidders. However, feedback of distribution result information does not bring about an increase in auction efficiency. This is because distribution result information isn't task information, so the feedback on the distribution result information cannot help bidders better understand the decision-making environment and thus cannot optimize their bidding strategy.

Key words: combinatorial auction, information feedback, bidding behavior, experiment

Zheng Junjun, Zhang Bing, Ma Gang, Li Chengzhi. An Experimental Study of the Impact of Information Feedback on Combinatorial Auction of Emission Permits[J]. , 2019, 31(10): 50-59.

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