1. “Swooping” in for the win: Bidding strategies in pay-per-bid auctions
Bryce Scanlan
David Katzman

2. Question Popularity of Swoopo
“What is the optimal bidding strategy in a pay-per-bid auction?”
Brennan Platt, Joseph Price, and Henry Tappen, “Pay-to-Bid Auctions” (October 2, 2009)

3. Experimental Design
ZTree
Surveys

4. Theory and Hypothesis Risk-neutral rationality Risk-loving bidders
Distribution of ending bids
Swoopo data from 34,000 auctions

5. Assumptions and Implementation Decisions
Bid price and increment
Private values
Extension timer

6. Problems
Breaking into groups
Data resolution
Bidding while leading

7. Experimental Results How long people last How many people bid
How often they bid

8. Period One

9. Period Two

10. Period Three

11. Period Four

12. Initial Surveys Confidence in rules Concern with other subjects
Bidding late

13. Final Surveys Implementation failures Reactions to previous rounds
Belief in strategies

14. Conclusion Negative total profits Learning effects
Symmetric strategies?