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Winner determination for risk aversion buyers in multi-attribute reverse auction

Huang, Min; Qian, Xiaohu; Fang, Shu-Cherng; Wang, Xingwei - In: Omega : the international journal of management science 59 (2016), pp. 184-200

Persistent link: https://www.econbiz.de/10011439780

Anchoring or loss aversion? : empirical evidence from art auctions

Graddy, Kathryn; Loewenstein, Lara; Mei, Jianping; … - 2014

Persistent link: https://www.econbiz.de/10010505313

Loss aversion in sequential auctions

Rosato, Antonio - In: Theoretical economics : TE ; an open access journal in … 18 (2023) 2, pp. 561-596

I analyze sequential auctions with expectations-based loss-averse bidders who have independent private values and unit demand. Equilibrium bids are history dependent and subject to a “discouragement effect”: the higher is the winning bid in the current round, the less aggressive are the bids...

Persistent link: https://www.econbiz.de/10014325201

Empirical evidence of anchoring and loss aversion from art auctions

Graddy, Kathryn; Loewenstein, Lara; Mei, Jianping; … - In: Journal of cultural economics 47 (2023) 2, pp. 279-301

Persistent link: https://www.econbiz.de/10014322961

Detection of Loss Aversion in Auctions Against Pre-Programmed Computers

Kim, Dong-Hyuk; Ratan, Anmol - 2023

We run experiments of first-price auctions with two groups, by which we directly detect the presence of bidders’ loss-aversion. Each human bidder bids against three preprogrammed computer bidders. The computer bidders independently draw their values from the uniform distribution and bid their...

Persistent link: https://www.econbiz.de/10014357107

Reference-dependent bidding in dynamic auctions : conference paper

Ehrhart, Karl-Martin; Ott, Marion - 2014 - Preliminary and incomplete. This draft: June 24, 2014

point due to updated information about others' values (i.e., the own winning probability) during the course of the auction …, and make optimal binary decisions at each price (approve or quit in the English auction and wait or bid in the Dutch … auction). First, we solve for personal equilibrium profiles, i.e., profiles of bids that contain for each bidder a bidding …

Persistent link: https://www.econbiz.de/10010490656

Prospect Theory in the Heterogeneous Agent Model

Polach, Jan; Kukacka, Jiri - 2016

Using the Heterogeneous Agent Model framework, we incorporate an extension based on Prospect Theory into a popular agent-based asset pricing model. The extension covers the phenomenon of loss aversion manifested in risk aversion and asymmetric treatment of gains and losses. Using Monte Carlo...

Persistent link: https://www.econbiz.de/10011515746

Prospect Theory in the Heterogeneous Agent Model

Polach, Jan - 2019

Using the Heterogeneous Agent Model framework, we incorporate an extension based on Prospect Theory into a popular agent-based asset pricing model. This extension covers the phenomenon of loss aversion manifested in risk aversion and asymmetric treatment of gains and losses. Using Monte Carlo...

Persistent link: https://www.econbiz.de/10012903530

Assessment and estimation of risk preferences

Holt, Charles A.; Laury, Susan K. - 2014

Persistent link: https://www.econbiz.de/10010366838

Chapter 4. Assessment and Estimation of Risk Preferences

Holt, Charles A.; Laury, Susan K. - In: Handbook of the economics of risk and uncertainty : volume 1, (pp. 135-201). 2014

This chapter surveys the rapidly growing literature in which risk preferences are measured and manipulated in laboratory and field experiments. The most commonly used measurement instruments are: an investment task for allocations between a safe and risky asset, a choice menu task for eliciting...

Persistent link: https://www.econbiz.de/10014025528

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