Second Price Auction of Monty-Hall Game

[Amit]

Experiment: Second Price Auction of Monty-Hall Game 

It'll be a second price auction where the winner of the auction will get an opportunity to play the Monty Hall Game once. Game will be played online (publicly) with the winner of the auction. You can win the cash prize of Rs. 200/- if you select the prize door, or get nothing otherwise. To earn this opportunity:

- You'll be asked to submit your bid first. 

- If you are the only highest bidder then you'll win the opportunity to play Monty Hall and you need to pay the amount equal to the second highest bid. Other players does not have to pay anything.

- In case there are multiple highest bidders, we will break the tie by selecting the bidder who has submitted the bid earlier than the other highest bidders. In this case, the selected highest bidder will win the opportunity to play Monty Hall Game and pays the amount equal to his/her own bid. Other players does not have to pay anything.

- Please note that: Data collected in the process will be used for economic research. We'll not be disclosing the names of the bidders in our study. We may disclose the distribution of the bids after the auction, and subsequent analysis on it.

If you've any question, please feel free to post them below. If you wish to participate in this experiment, please fill up this form latest by 2nd Feb, 2023 (11 pm). We'll let you know the results of the auction on 3rd Feb. Game will be played with the winner on Saturday (4th Feb) around 9 PM. (We'll share the meeting link with the participants):

https://forms.gle/FKSY7obwkXA4dHqp7

[Amit]

Hi

Thank you for participating in the study: Auction to determine "the value" of playing the Monty Hall Game. Winner of the auction has been decided and is notified. I'll be sending the link to attend the game show (experiment) to the auction participants tomorrow. Game will take place at around 9 PM tomorrow. I'll also share the data with the participants before playing the game (without disclosing the names).

Best,

Amit