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Auctions often involve goods exhibiting a common knowledge ex-post risk that is independent of buyers' private values or their signals regarding common value components. Esö and White (2004) showed theoretically that ex-post risk leads to precautionary bidding for DARA bidders: Agents reduce...
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show that risk attitude is strongly affected by social contexts: participants in the experiment seem to be relatively risk …
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experimentally why, and under which conditions, leaders resort to such decisions. In our experiment, teams are presented with several …
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prospects involving both gains and losses. In an experiment we find that risk aversion for gains is robust under time pressure …
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