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Individuals and teams in auctions
Sutter, Matthias; Kocher, Martin G.; Strauß, Sabine - Volkswirtschaftliche Fakultät, … - 2009
Experimental studies on bidding in auctions have so far relied on individual bidders, even though teams are often involved in real auctions. We examine the bidding behaviour of individuals and teams. Our experimental results show that teams stay longer in an (ascending sealed-bid English)...
Persistent link: https://www.econbiz.de/10011019522
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Individuals and Teams in Auctions
Sutter, Matthias - 2010
Experimental studies on bidding in auctions have so far relied on individual bidders, even though teams are often involved in real auctions. We examine the bidding behaviour of individuals and teams. Our experimental results show that teams stay longer in an (ascending sealed-bid English)...
Persistent link: https://www.econbiz.de/10012757655
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Individuals and Teams in UMTS-License Auctions
Sutter, Matthias; Kocher, Martin G.; Strauß, Sabine - 2007
We examine bidding behaviour of individuals and teams in an experimental auction resembling UMTS-license auctions. Even though in reality teams were largely involved in those auctions, experimental studies on bidding in auctions have so far relied on individual bidders. Our results show that...
Persistent link: https://www.econbiz.de/10014223158
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An experimental test of precautionary bidding
Kocher, Martin G.; Pahlke, Julius; Trautmann, Stefan T. - School of Economics, University of East Anglia - 2010
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. Eso and White (2004) showed theoretically that ex-post risk leads to … precautionary bidding for DARA bidders: Agents reduce their bids by more than their appropriate risk premium. Testing precautionary …
Persistent link: https://www.econbiz.de/10010571485
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Selection into auctions for risky and ambiguous prospects
Kocher, Martin G.; Trautmann, Stefan T. - School of Economics, University of East Anglia - 2010
correlation between risk and ambiguity aversion suggests that the ambiguous markets were populated by relatively risk tolerant … selection on market size and risk attitudes. …
Persistent link: https://www.econbiz.de/10010571488
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Cross-Game Learning and Cognitive Ability in Auctions
Giebe, Thomas; Ivanova-Stenzel, Radosveta; Kocher, Martin G. - 2021
Overbidding in second-price auctions (SPAs) has been shown to be persistent and associated with cognitive ability. We … study experimentally to what extent cross-game learning can reduce overbidding in SPAs, taking into account cognitive skills … cognitively less able participants but does not affect overbidding for the cognitively more able. Vice versa, experiencing SPAs …
Persistent link: https://www.econbiz.de/10012799696
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Cross-game Learning and Cognitive Ability in Auctions
Giebe, Thomas; Ivanova-Stenzel, Radosveta; Kocher, Martin G. - 2022
Overbidding in sealed-bid second-price auctions (SPAs) has been shown to be persistent and associated with cognitive … ability. We study experimentally to what extent cross-game learning can reduce overbidding in SPAs, taking into account …-game learning for cognitively less able participants but does not affect overbidding for the cognitively more able. Vice versa …
Persistent link: https://www.econbiz.de/10014467730
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An Experimental Test of Precautionary Bidding
Kocher, Martin G.; Pahlke, Julius; Trautmann, Stefan T. - Volkswirtschaftliche Fakultät, … - 2010
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 their bids by more than their appropriate risk premium. Testing precautionary …
Persistent link: https://www.econbiz.de/10008532007
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An Experimental Test of Precautionary Bidding
Kocher, Martin G.; Pahlke, Julius; Trautmann, Stefan T. - 2010
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 their bids by more than their appropriate risk premium. Testing precautionary …
Persistent link: https://www.econbiz.de/10010427591
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Loss Aversion and Learning to Bid
Dittrich, Dennis Alexis Valin - 2009
Bidding challenges learning theories, since with the same bid, experiences vary stochastically: the same choice can result in either a gain or a loss. In such an environment the question arises how the nearly universally documented phenomenon of loss aversion affects the adaptive dynamics. We...
Persistent link: https://www.econbiz.de/10013155297