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Nishimura, Naoko; Cason, Timothy N.; Saijō, Tatsuyoshi; … - In: Games 2 (2011) 3, pp. 365-411

The paper presents a complete information model of bidding in second price sealed-bid and ascending-bid (English) auctions, in which potential buyers know the unit valuation of other bidders and may spitefully prefer that their rivals earn a lower surplus. Bidders with spiteful preferences...

Persistent link: https://www.econbiz.de/10009752417

Does the absence of human sellers bias bidding behavior in auction experiments?

Bartling, Björn; Gesche, Tobias; Netzer, Nick - 2016

second-price auctions. Overbidding is a robust finding in second- price auctions, and spite among bidders has been advanced … as an explanation. If spite extends to the seller, then the absence of human sellers who receive the auction revenue may … spite extends to the seller. We experimentally test the model predictions by exogenously varying the presence of human …

Persistent link: https://www.econbiz.de/10011456510

Spite vs. risk : explaining overbidding in the second-price all-pay auction : a theoretical and experimental investigation

Kirchkamp, Oliver; Mill, Wladislaw - In: Games and economic behavior 130 (2021), pp. 616-635

Persistent link: https://www.econbiz.de/10012820384

Spite vs. risk : explaining overbidding

Kirchkamp, Oliver; Mill, Wladislaw - 2019

In this paper we use an experiment to compare a theory of risk aversion and a theory of spite as an explanation for … spite can be used to rationalize deviations from risk neutral equilibrium bids in auctions. We exploit that equilibrium …. Indeed, we find that spite is a more convincing explanation for bidding behavior for the second-price all-pay auction. Not …

Persistent link: https://www.econbiz.de/10012002983