Arve, Malin; Serena, Marco - In: Games 13 (2022) 3, pp. 1-12
a theoretical contest environment with level-k reasoning. … documented empirically, and it has been shown that, in private-value auctions, such overbidding can be rationalized by level-k … reasoning. We bridge the existing gap between the auction and contest literature by showing that overbidding may also be true in …