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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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Knowing me, imagining you : projection and overbidding in auctions
Breitmoser, Yves - 2017
Overbidding in auctions has been attributed to e.g. risk aversion, loser regret, level-k, and cursedness, relying on varying identifying assumptions. I argue that "type projection" organizes these findings and largely captures observed behavior. Type projection formally models that people tend...
Persistent link: https://www.econbiz.de/10011698267
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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
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Price discovery and learning during the German 5G auction
Dimpfl, Thomas; Reining, Alexander - In: Journal of risk and financial management : JRFM 14 (2021) 6, pp. 1-17
The auctioning of frequency has to comply with a multitude of requirements in order to guarantee a transparent and efficient process. The German Federal Network Agency (Bundesnetzagentur) has opted for a design that provides participants with information on the highest bid after each round for...
Persistent link: https://www.econbiz.de/10012605864
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Spite vs. risk : explaining overbidding
Kirchkamp, Oliver; Mill, Wladislaw - 2019
In this paper we use an experiment to compare a theory of risk aversion and a theory of spite as an explanation for …
Persistent link: https://www.econbiz.de/10012002983
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An experimental study of precautionary bidding : conference paper
Kocher, Martin; Pahlke, Julius; Trautmann, Stefan T. - 2013
Auctions often involve goods exhibiting a common knowledge ex-post risk. Precautionary bidding predicts that under expected utility, ex-post risk leads DARA bidders to reduce their bids by more than the appropriate risk premium. Because the degree of riskiness of the good, and bidders risk...
Persistent link: https://www.econbiz.de/10010344662
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Cross-game learning and cognitive ability in auctions
Giebe, Thomas; Ivanova-Stenzel, Radosveta; Kocher, Martin; … - 2021
study experimentally to what extent cross-game learning can reduce overbidding in SPAs, taking into account cognitive skills … losses from high bids are more salient than in SPAs. Experience in FPAs causes substantial cross-game learning for … bid shading by cognitively more able participants, resulting in lower profits in FPAs. Thus, cross-game learning has the …
Persistent link: https://www.econbiz.de/10012668312
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Cross-game learning and cognitive ability in auctions
Giebe, Thomas; Ivanova-Stenzel, Radosveta; Kocher, Martin; … - 2022
ability. We study experimentally to what extent cross-game learning can reduce overbidding in SPAs, taking into account …-game learning for cognitively less able participants but does not affect overbidding for the cognitively more able. Vice versa …, 'cross-game learning' may rather be understood as 'cross-game transfer', as it has the potential to benefit bidders with …
Persistent link: https://www.econbiz.de/10014476711
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Heterogeneous bids in auctions with rational and markdown bidderstheory and experiment
Kirchkamp, Oliver (contributor);  … - 2008
; experiment ; overbidding ; underbidding ; risk-aversion. …
Persistent link: https://www.econbiz.de/10003766515
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Uncertainty in individual and social decisions : theory and experiments
Trautmann, Stefan T. - 2008
Persistent link: https://www.econbiz.de/10003786279