Auctions: GREAT Expirements on Revenue Equivalence

I'm starting to see the theory of revenue equivalence the same way I see the theory of efficient markets ... They both involve fundamental assumptions that make analysis and forecasting simpler, but they simple don't hold true in most cases.

This started in my analysis of all-pay auctions in the context of crowdsourcing websites (shameless plug: check out our presentation and final paper, it WILL change the way you think about the future of the labor market). The following link continues to break down the theory of revenue equivalence among auction types/formats.

http://www.econport.org/econport/request?page=man_auctions_experiments

The structure of the auction is immensely important to the bids tendered and to the revenues reaped by the auctioneer.