{"id":"https://openalex.org/W2083446554","doi":"https://doi.org/10.1007/s10683-008-9210-8","title":"Uniform price auctions and fixed price offerings in IPOs: an experimental comparison","display_name":"Uniform price auctions and fixed price offerings in IPOs: an experimental comparison","publication_year":2008,"publication_date":"2008-10-29","ids":{"openalex":"https://openalex.org/W2083446554","doi":"https://doi.org/10.1007/s10683-008-9210-8","mag":"2083446554"},"language":"en","primary_location":{"id":"doi:10.1007/s10683-008-9210-8","doi":"https://doi.org/10.1007/s10683-008-9210-8","is_oa":false,"landing_page_url":"https://doi.org/10.1007/s10683-008-9210-8","pdf_url":null,"source":{"id":"https://openalex.org/S181493553","display_name":"Experimental Economics","issn_l":"1386-4157","issn":["1386-4157","1573-6938"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","jufo-2","norway-2","poland-140","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310319900","host_organization_name":"Springer Science+Business Media","host_organization_lineage":["https://openalex.org/P4310319900","https://openalex.org/P4310319965"],"host_organization_lineage_names":["Springer Science+Business Media","Springer Nature"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Experimental Economics","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5040547097","display_name":"Ping Zhang","orcid":"https://orcid.org/0000-0003-0663-1850","observed_orcids":["https://orcid.org/0000-0003-0663-1850","https://orcid.org/0009-0002-5734-8051","https://orcid.org/0009-0004-0882-0297","https://orcid.org/0000-0001-5423-2470"]},"institutions":[{"id":"https://openalex.org/I142263535","display_name":"University of Nottingham","ror":"https://ror.org/01ee9ar58","country_code":"GB","type":"education","lineage":["https://openalex.org/I142263535"]}],"countries":["GB"],"is_corresponding":true,"raw_author_name":"Ping Zhang","raw_affiliation_strings":["School of Economics, University of Nottingham, Nottingham, UK","University of Nottingham"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"School of Economics, University of Nottingham, Nottingham, UK","institution_ids":["https://openalex.org/I142263535"]},{"raw_affiliation_string":"University of Nottingham","institution_ids":["https://openalex.org/I142263535"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5040547097"],"corresponding_institution_ids":["https://openalex.org/I142263535"],"apc_list":{"value":3550,"currency":"USD","value_usd":3550},"apc_paid":null,"fwci":3.5936,"has_fulltext":false,"cited_by_count":32,"citation_normalized_percentile":{"value":0.92027017,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":89,"max":98},"biblio":{"volume":"12","issue":"2","first_page":"202","last_page":"219"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T11182","display_name":"Auction Theory and Applications","score":0.9955999851226807,"subfield":{"id":"https://openalex.org/subfields/1803","display_name":"Management Science and Operations Research"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T11182","display_name":"Auction Theory and Applications","score":0.9955999851226807,"subfield":{"id":"https://openalex.org/subfields/1803","display_name":"Management Science and Operations Research"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10646","display_name":"Experimental Behavioral Economics Studies","score":0.002400000113993883,"subfield":{"id":"https://openalex.org/subfields/3311","display_name":"Safety Research"},"field":{"id":"https://openalex.org/fields/33","display_name":"Social Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.0003000000142492354,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/initial-public-offerings","display_name":"initial public offerings","score":0.8640000224113464},{"id":"https://openalex.org/keywords/uniform-price-auctions","display_name":"uniform-price auctions","score":0.9909999966621399},{"id":"https://openalex.org/keywords/ipo-pricing","display_name":"IPO pricing","score":0.8859999775886536},{"id":"https://openalex.org/keywords/auction-revenue","display_name":"auction revenue","score":0.4339999854564667},{"id":"https://openalex.org/keywords/tacit-collusion","display_name":"tacit collusion","score":0.8330000042915344},{"id":"https://openalex.org/keywords/ipo-underpricing","display_name":"IPO underpricing","score":0.5730000138282776}],"concepts":[{"id":"https://openalex.org/C163239763","wikidata":"https://www.wikidata.org/wiki/Q5153637","display_name":"Common value auction","level":2,"score":0.8505560159683228},{"id":"https://openalex.org/C2778970417","wikidata":"https://www.wikidata.org/wiki/Q3683307","display_name":"Tacit collusion","level":3,"score":0.6236448287963867},{"id":"https://openalex.org/C70295763","wikidata":"https://www.wikidata.org/wiki/Q474606","display_name":"Reservation price","level":2,"score":0.5952299237251282},{"id":"https://openalex.org/C2776291640","wikidata":"https://www.wikidata.org/wiki/Q2912517","display_name":"Value (mathematics)","level":2,"score":0.5934567451477051},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.5866035223007202},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.58619624376297},{"id":"https://openalex.org/C2781198186","wikidata":"https://www.wikidata.org/wiki/Q701521","display_name":"Collusion","level":2,"score":0.4874036908149719},{"id":"https://openalex.org/C195487862","wikidata":"https://www.wikidata.org/wiki/Q850210","display_name":"Revenue","level":2,"score":0.48223885893821716},{"id":"https://openalex.org/C12559387","wikidata":"https://www.wikidata.org/wiki/Q185142","display_name":"Initial public offering","level":2,"score":0.447315514087677},{"id":"https://openalex.org/C162889289","wikidata":"https://www.wikidata.org/wiki/Q6841075","display_name":"Mid price","level":3,"score":0.4273458421230316},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.37950190901756287},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.3305613398551941},{"id":"https://openalex.org/C34881761","wikidata":"https://www.wikidata.org/wiki/Q1936341","display_name":"Price level","level":2,"score":0.32297855615615845},{"id":"https://openalex.org/C33923547","wikidata":"https://www.wikidata.org/wiki/Q395","display_name":"Mathematics","level":0,"score":0.14155319333076477},{"id":"https://openalex.org/C105795698","wikidata":"https://www.wikidata.org/wiki/Q12483","display_name":"Statistics","level":1,"score":0.08290085196495056},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.06866857409477234}],"mesh":[],"locations_count":3,"locations":[{"id":"doi:10.1007/s10683-008-9210-8","doi":"https://doi.org/10.1007/s10683-008-9210-8","is_oa":false,"landing_page_url":"https://doi.org/10.1007/s10683-008-9210-8","pdf_url":null,"source":{"id":"https://openalex.org/S181493553","display_name":"Experimental Economics","issn_l":"1386-4157","issn":["1386-4157","1573-6938"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","jufo-2","norway-2","poland-140","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310319900","host_organization_name":"Springer Science+Business Media","host_organization_lineage":["https://openalex.org/P4310319900","https://openalex.org/P4310319965"],"host_organization_lineage_names":["Springer Science+Business Media","Springer Nature"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Experimental Economics","raw_type":"journal-article"},{"id":"mag:2083446554","doi":null,"is_oa":false,"landing_page_url":"https://EconPapers.repec.org/RePEc:not:notcdx:2006-05","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"RePEc: Research Papers in Economics","raw_type":null},{"id":"pmh:oai:RePEc:kap:expeco:v:12:y:2009:i:2:p:202-219","doi":null,"is_oa":false,"landing_page_url":"http://hdl.handle.net/10.1007/s10683-008-9210-8","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"}],"best_oa_location":null,"sustainable_development_goals":[],"study_designs":[],"awards":[{"id":"https://openalex.org/G6784466718","display_name":null,"funder_award_id":"ES/E009875/1","funder_id":"https://openalex.org/F4320334630","funder_display_name":"Economic and Social Research Council"}],"funders":[{"id":"https://openalex.org/F4320334630","display_name":"Economic and Social Research Council","ror":"https://ror.org/03n0ht308"}],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":34,"referenced_works":["https://openalex.org/W315105961","https://openalex.org/W339587960","https://openalex.org/W569242832","https://openalex.org/W1501475135","https://openalex.org/W1549401347","https://openalex.org/W1549789182","https://openalex.org/W1550828527","https://openalex.org/W1985782116","https://openalex.org/W1999955667","https://openalex.org/W2012176843","https://openalex.org/W2019473219","https://openalex.org/W2028783540","https://openalex.org/W2031972228","https://openalex.org/W2047518615","https://openalex.org/W2052536272","https://openalex.org/W2055454717","https://openalex.org/W2060188062","https://openalex.org/W2073488258","https://openalex.org/W2077850276","https://openalex.org/W2084786196","https://openalex.org/W2085964960","https://openalex.org/W2088277553","https://openalex.org/W2101012698","https://openalex.org/W2126711903","https://openalex.org/W2167130022","https://openalex.org/W2745241359","https://openalex.org/W3122364416","https://openalex.org/W3122677141","https://openalex.org/W3124165162","https://openalex.org/W3124431059","https://openalex.org/W3125946166","https://openalex.org/W4247263526","https://openalex.org/W4252079853","https://openalex.org/W7074699879"],"related_works":["https://openalex.org/W1528656381","https://openalex.org/W2143227957","https://openalex.org/W7095487227","https://openalex.org/W3124977403","https://openalex.org/W315105961","https://openalex.org/W362961733","https://openalex.org/W3122288400","https://openalex.org/W4241137779","https://openalex.org/W7130702732","https://openalex.org/W4253076025"],"abstract_inverted_index":{"Abstract":[0],"We":[1],"compare":[2],"uniform":[3,46,72],"price":[4,8,47,73,79],"auctions":[5,74],"with":[6],"fixed":[7,78],"offerings":[9,80],"in":[10,45,81],"Initial":[11],"Public":[12],"Offerings":[13],"(IPO)":[14],"using":[15],"laboratory":[16],"experiments.":[17],"The":[18,67],"experimental":[19],"environment":[20],"is":[21,60],"based":[22,36],"on":[23,37],"the":[24,71],"Biais":[25],"and":[26],"Faugeron-Grouzet":[27],"(J.":[28],"Financ.":[29],"Intermed.":[30],"11:9-36,":[31],"2002)":[32],"model.":[33],"Standard":[34],"predictions":[35],"tacit":[38],"collusion":[39],"equilibria":[40,51],"(TCE)":[41],"suggest":[42],"lower":[43],"revenues":[44],"auctions,":[48],"although":[49],"alternative":[50],"allow":[52],"for":[53],"higher":[54],"revenues.":[55,85],"In":[56],"our":[57],"experiment,":[58],"there":[59],"no":[61],"evidence":[62],"that":[63,70],"TCE":[64],"are":[65,75],"played.":[66],"experiment":[68],"suggests":[69],"superior":[76],"to":[77],"terms":[82],"of":[83],"raising":[84]},"counts_by_year":[{"year":2026,"cited_by_count":1},{"year":2020,"cited_by_count":1},{"year":2019,"cited_by_count":2},{"year":2018,"cited_by_count":1},{"year":2017,"cited_by_count":2},{"year":2016,"cited_by_count":3},{"year":2015,"cited_by_count":4},{"year":2013,"cited_by_count":6},{"year":2012,"cited_by_count":4}],"updated_date":"2026-10-16T09:59:22.235173","created_date":"2016-06-24T00:00:00"}
