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 …

This paper analyzes the effects of buyer and seller risk aversion in first and second-price auctions. The setting is … to optimally set the reserve price. In both auctions the seller’s optimal reserve price is shown to decrease in his own … of both auctions, and especially that of the first-price auction. The seller’s optimal reserve price in the first …

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 …

This paper analyzes the effects of buyer and seller risk aversion in first and second-price auctions. The setting is … to optimally set the reserve price. In both auctions the seller’s optimal reserve price is shown to decrease in his own … of both auctions, and especially that of the first-price auction. The seller’s optimal reserve price in the first …