现代产业经济学系列讲座第215期

数字经济与产业发展创新系列研讨会

时间：2022年3月22日（周二）15:30-17:00

地点：复旦大学管理学院思源楼326室

题目：Market Transparency and Competitiveness in a Multi-Unit Auction: An experimental Study

主讲人：申培垚上海科技大学助理教授

主持人：从佳佳复旦大学管理学院助理教授

摘要：Does a more transparent market lead to more competitive outcomes? We study this question with an experimental seller-side multi-unit auction inspired by electricity markets. The experiment is designed to include the different forms of market power that can arise in multi-unit auctions, as well as a changing level of competition. Our treatment variable is market transparency, where the information that is commonly available to sellers either about market demand or about other sellers' costs may change.

We find that a fully transparent market does not induce a more competitive outcome. On the contrary, limited information about other sellers leads to strictly lower average prices without negatively affecting the allocative efficiency of the auction. We explain this and other findings with a behavioral variant of supply function competition, where individual sellers act as if competing against the average market situation.

主讲人简介：上海科技大学助理教授，博士毕业于澳大利亚新南威尔士大学经济系，主要研究方向为环境经济学和实验经济学。她的工作探讨能源效率政策中的逆向选择问题，碳排放交易市场上信息审查机制的设计，以电力市场为例分析信息结构对多物品拍卖的影响，以及基于实地实验分析信息干预在清洁取暖方面如何帮助消费者做更好的决策。研究成果发表在《Environmental and Resource Economics》、《Economics Letters》等期刊。主持国家自然科学青年基金一项。

应用经济学系

2022-3-8