Overbidding in auctions has been attributed to e.g. risk aversion, loser regret, level-k, and cursedness, relying on … psychological phenomenon that naturally applies to auctions. First, I show that type projection generates the main behavioral … varying identifying assumptions. I argue that \"type projection\'\" organizes these findings and largely captures observed …

We present results from a series of experiments that allow us to measure overbidding and, in particular, underbidding … in first-price auctions. We investigate how the amount of underbidding depends on seemingly innocent parameters of the …

We introduce a new method of varying the risk that bidders face in first-price private value auctions. We find that … decreasing bidders' risk significantly reduces the degree of overbidding relative to the risk-neutral Bayesian-Nash equilibrium … overbidding decreases for most of the value range, a significant degree of underbidding sets in for very low values. …

-price (English) auctions with independent private values. In a laboratory experiment, we find that individuals overbid more than … teams in first-price auctions and deviate more from bidding their own value in second-price auctions. However we observe no … difference in bidding behavior in English auctions. Based on control variables, we claim that the observed difference can be …

The paper characterizes the mixed-strategy equilibria in all-pay auctions with endogenous prizes that depend positively … on own effort and negatively on the effort of competitors. Such auctions arise naturally in the context of investment …

We use perturbation analysis to study independent private-value all-pay auctions with weakly risk-averse buyers. We …

candidate is expectations: what people expect could affect how they feel about what actually occurs. In a real-effort experiment …