🤖 AI Summary
研究通过引入预示性竞价机制解决拍卖中因高昂入场费导致的参与度低和选择效率问题，实验显示该方法能显著增加高成本下的收益。
📝 Abstract
We study auctions with costly entry in which bidders have incomplete information about their affiliated private valuations prior to entry. We examine whether indicative bidding--a mechanism requiring non-binding preliminary bids before entry--can stimulate participation and improve entrant selection, and we compare its performance with unrestricted and capped entry in a controlled laboratory experiment. When entry costs are high, indicative bidding generates significantly more revenue, primarily by increasing participation beyond theoretical predictions. When entry costs are low, its predicted revenue advantage is attenuated by higher-than-predicted selection inefficiency.