TY - JOUR
T1 - An experimental investigation of the hahn-noll revenue neutral auction for emissions licenses
AU - Franciosi, Robert
AU - Isaac, R. Mark
AU - Pingry, David E.
AU - Reynolds, Stanley S.
PY - 1993/1
Y1 - 1993/1
N2 - This paper reports on three series of laboratory experiments designed to test the performance of the Hahn-Noll revenue neutral auction (RNA). An alternative institution, a no-rebate uniform price auction (UPA), is also examined as a benchmark. In these experiments, the RNA markets were little different from UPA markets in terms of either prices or market efficiencies. The two institutions did differ in terms of the distribution of the gains from exchange and of the propensity of bidders to engage in a certain type of overbidding.
AB - This paper reports on three series of laboratory experiments designed to test the performance of the Hahn-Noll revenue neutral auction (RNA). An alternative institution, a no-rebate uniform price auction (UPA), is also examined as a benchmark. In these experiments, the RNA markets were little different from UPA markets in terms of either prices or market efficiencies. The two institutions did differ in terms of the distribution of the gains from exchange and of the propensity of bidders to engage in a certain type of overbidding.
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U2 - 10.1006/jeem.1993.1001
DO - 10.1006/jeem.1993.1001
M3 - Article
AN - SCOPUS:0012882761
SN - 0095-0696
VL - 24
SP - 1
EP - 24
JO - Journal of Environmental Economics and Management
JF - Journal of Environmental Economics and Management
IS - 1
ER -