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Identification of time and risk preferences in buy price auctions
Ackerberg, Daniel A.; Hirano, Keisuke; Shahriar, Quazi - In: Quantitative economics : QE ; journal of the … 8 (2017) 3, pp. 809-849
auction sites including eBay and General Motors Assistance Corporation. A buyer in a buy price auction can accept the buy … price to win with certainty and end the auction early. Intuitively, the buy price option may appeal to bidders who are risk … aversion and time preferences. We develop a private value model of bidder behavior in a buy price auction with a temporary buy …
Persistent link: https://www.econbiz.de/10011801642
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Identification of time and risk preferences in buy price auctions
Ackerberg, Daniel A.; Hirano, Keisuke; Shahriar, Quazi - In: Quantitative economics : QE ; journal of the … 8 (2017) 3, pp. 809-849
Persistent link: https://www.econbiz.de/10011804960
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The role of risk preferences in pay-to-bid auctions
Platt, Brennan C.; Price, Joseph; Tappen, Henry - In: Management science : journal of the Institute for … 59 (2013) 9, pp. 2117-2134
Persistent link: https://www.econbiz.de/10010195590
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How risk sharing may enhance efficiency in English auctions
Hu, Audrey; Offerman, Theo; Zou, Liang - 2014
auction - in a setting that extends Maskin and Riley (1984, Econometrica 52: 1473-1518) in three aspects: (i) the seller can … be risk averse, (ii) the bidders can have heterogeneous risk preferences, and (iii) the auction can have a binding … verifiable by deduction prior to the auction - the premium also benefits the seller and therefore leads to a Pareto improvement …
Persistent link: https://www.econbiz.de/10010234599
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Intertemporal Preference with Loss Aversion : Consumption and Risk Attitude
Choi, Kyoung Jin - 2020
We study the consumption and portfolio selection problem of an agent who faces consumption irreversibility: there is disutility from changing consumption levels. The derived preference exhibits intertemporal loss aversion toward consumption changes with the previous consumption level being the...
Persistent link: https://www.econbiz.de/10012847313
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Worst-case risk with unspecified risk preferences
Liu, Haiyan - 2022
In this paper, we study the worst-case distortion risk measure when information about distortion functions is partially available. We obtain the explicit forms of the worst-case distortion functions from several different sets of plausible distortion functions. When there is no concavity...
Persistent link: https://www.econbiz.de/10013294556
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Price formation in a sequential selling mechanism
Ivanova-Stenzel, Radosveta; Kröger, Sabine - 2005
auction with an additional buyer is conducted. The theoretical model predicts that with risk neutral agents all sales take … place in the auction rendering the negotiation prior to the auction obsolete. An experimental test of the model provides …
Persistent link: https://www.econbiz.de/10010365906
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Insider trading with different risk attitudes
Daher, Wassim; Aydilek, Harun; Saleeby, Elias G. - In: Journal of economics 131 (2020) 2, pp. 123-147
Persistent link: https://www.econbiz.de/10012419397
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Assessment and estimation of risk preferences
Holt, Charles A.; Laury, Susan K. - 2014
Persistent link: https://www.econbiz.de/10010366838
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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