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 …

second-price auctions. Overbidding is a robust finding in second- price auctions, and spite among bidders has been advanced … bias upwards the bidding behavior in existing experimental auctions. We derive the equilibrium bidding function in a model … where bidders have preferences regarding both, the payoffs of other bidders and the seller's revenue. Overbidding is optimal …

overbidding in auctions. As a workhorse we use the second-price all-pay and the first-price winner-pay auction. Both risk and …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 …

We examine bidding behavior in first-price sealed-bid and Dutch auctions, which are strategically equivalent under …

effects of risk aversion on observed behavior in economic in settings, e.g. bargaining, auctions, and contests. Some …