English premium auction (EPA) for different risk attitudes of bidders. We explicitly derive the symmetric equilibrium for … are sorted into risk-averse and risk loving groups. We find that revenues in the EPA are significantly higher when bidders … are risk loving rather than risk averse. These results are partly consistent with theory and confirm the general view that …

This study examines risk premia in a laboratory market featuring a long-lived asset. The research is enabled by …, statistically significant risk premia are reported, in support of standard asset pricing models. Potential determinants of the risk … premia are investigated. These risk premia are not sensitive to expected variance, but do vary positively with the magnitude …

Auctions often involve goods exhibiting a common knowledge ex-post risk that is independent of buyers’ private values … or their signals regarding common value components. Esö and White (2004) showed theoretically that ex-post risk leads to … precautionary bidding for DARA bidders: Agents reduce their bids by more than their appropriate risk premium. Testing precautionary …

Auctions often involve goods exhibiting a common knowledge ex-post risk that is independent of buyers' private values … or their signals regarding common value components. Esö and White (2004) showed theoretically that ex-post risk leads to … precautionary bidding for DARA bidders: Agents reduce their bids by more than their appropriate risk premium. Testing precautionary …

investigates how the performance of such premium tactic is related to the participant's risk preferences. By developing an English … premium auction model with symmetric interdependent values, where both the seller and the buyers may be risk averse (or … preferring), we show that a) the premium reduces the riskiness of revenue regardless of the bidders' risk preferences, and b) the …