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We report the result of experiments designed to assess the effect of initial endowments on willingness to pay values elicited from multi-unit Vickrey auctions. Comparing bids from an “endow and upgrade” approach with the “full bidding” approach, we find that the direction of the...
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Within the area of Behavioral game theory, we focus on a specific context, namely, on a game we called the Alternative … over more frugal alternatives. -- game theory ; experiments ; maximization ; alternative traveler’s dilemma ; goals …
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