Isaac, R. Mark; Pevnitskaya, Svetlana; Schnier, Kurt - Department of Economics, Florida State University - 2008
This paper analyzes individual bidding data from a series of first price (FP) and second price (SP) sealed-bid auctions in which the number of bidders is unknown. In SP auctions we find a substantial amount of coincidence with theory. We observe systematic deviations from risk neutral bidding in...