Showing 1 - 9 of 9
We present results from a series of experiments that allow us to measure overbidding and, in particular, underbidding in first-price auctions. We investigate how the amount of underbidding depends on seemingly innocent parameters of the experimental setup. To structure our data we present and...
Persistent link: https://www.econbiz.de/10003766515
Persistent link: https://www.econbiz.de/10003483126
Persistent link: https://www.econbiz.de/10003444544
Persistent link: https://www.econbiz.de/10003391576
Persistent link: https://www.econbiz.de/10003921447
Persistent link: https://www.econbiz.de/10003663029
In this paper we use an experiment to compare a theory of risk aversion and a theory of spite as an explanation for overbidding in auctions. As a workhorse we use the second-price all-pay and the first-price winner-pay auction. Both risk and spite can be used to rationalize deviations from risk...
Persistent link: https://www.econbiz.de/10012002983
Persistent link: https://www.econbiz.de/10012124578
Persistent link: https://www.econbiz.de/10003407301