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| Experiments >> OSA: One-Sided Auction Experiment Software >> Setting Parameters for a Dutch Auction >> Setting Up Parameters for a Second-Price AuctionA second-price sealed bid auction involves the simultaneous submission of a single bid by each bidder. The highest bidder wins the auction and pays the price bid by the second highest bidder. For more details on this type of auction, see the Handbook section on First Price Auctions. Parameters are configured in the right-hand panel: Parameters for Regime #1 (Click here to open a window image) Period length: Here the experimenter specifies the length of each auction period (2 minutes by default). After setting these institution specific parameters, it is time to set up inducements by clicking on the Inducement tab. For details click here. | ||||||
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