Narrow search
Showing 1 - 4 of 4
Cover Image
Does Laboratory Trading Mirror Behavior in Real World Markets? Fair Bargaining and Competitive Bidding on EBay
Bolton, Gary E.; Ockenfels, Axel - CESifo - 2008
We conducted a controlled field experiment on eBay and examined to what extent both social and competitive laboratory behavior is robust to institutionally complex real world markets with experienced traders, who selected themselves into these markets. EBay’s natural trading system provides...
Persistent link: https://www.econbiz.de/10005181559
Cover Image
Behavioral Economics as Applied to Firms: A Primer
Armstrong, Mark; Huck, Steffen - CESifo - 2010
We discuss the literatures on behavioral economics, bounded rationality and experimental economics as they apply to firm behaviour in markets. Topics discussed include the impact of imitative and satisficing behavior by firms, outcomes when managers care about their position relative to peers,...
Persistent link: https://www.econbiz.de/10008572583
Cover Image
Inference of Bidders’ Risk Attitudes in Ascending Auctions with Endogenous Entry, Second Version
Fang, Hanming; Tang, Xun - Department of Economics, University of Pennsylvania - 2011
auctions, auction theory predicts bid distributions in Bayesian Nash equilibrium does not convey any information about bidders … risk averse. We show bidders' expected profits from entry into auctions is nonparametrically recoverable, if a researcher …
Persistent link: https://www.econbiz.de/10010543520
Cover Image
Inference of Bidders’ Risk Attitudes in Ascending Auctions with Endogenous Entry
Fang, Hanming; Tang, Xun - Department of Economics, University of Pennsylvania - 2013
Bidders’ risk attitudes have key implications for choices of revenue-maximizing auction formats. In ascending auctions … transaction prices and participation decisions in ascending auctions with entry costs. Nonparametric tests are proposed for two … of risk attitudes in a more general model of ascending auctions with selective entry, where bidders receive entry …
Persistent link: https://www.econbiz.de/10010699855