Ehrhart, Karl-Martin; Ott, Marion - 2014 - Preliminary and incomplete. This draft: June 24, 2014
We investigate equilibrium bidding behavior of bidders with reference-dependent preferences and independent private … auction). First, we solve for personal equilibrium profiles, i.e., profiles of bids that contain for each bidder a bidding … strategy that is optimal given the others' bidding strategies and the reference point induced by the own and others' strategies …