Showing 1 - 10 of 21
In this paper we study equilibrium- and experimental bidding behaviour in first-price and second price auctions with outside options. We find that bidders do respond to outside options and to variations of common knowledge about competitors' outside options. However, overbidding in first-price...
Persistent link: https://www.econbiz.de/10010263872
We study a random effects censored regression model in the context of repeated games. Introducing a feedback variable into the model leads to violation of the strict exogeneity assumption, thus rendering the random effects estimator inconsistent. Using the example of contributions to a public...
Persistent link: https://www.econbiz.de/10010277491
Persistent link: https://www.econbiz.de/10004828081
Persistent link: https://www.econbiz.de/10004478373
We study a random effects censored regression model in the context of repeated games. Introducing a feedback variable into the model leads to violation of the strict exogeneity assumption, thus rendering the random effects estimator inconsistent. Using the example of contributions to a public...
Persistent link: https://www.econbiz.de/10005011860
Persistent link: https://www.econbiz.de/10005583290
We introduce and experimentally test an auction model that allows for outside options of bidders as substitutes for the auctioned object under the private values assumption. Theoretically and in the experiments, bidders respond to their individual outside options and to variations of common...
Persistent link: https://www.econbiz.de/10005761154
In this paper we study equilibrium- and experimental bidding behaviour in first-price and second price auctions with outside options. We find that bidders do respond to outside options and to variations of common knowledge about competitors' outside options. However, overbidding in first-price...
Persistent link: https://www.econbiz.de/10005032028
In this paper we study equilibrium and experimental bidding behaviour in first-price and second-price auctions with outside options. We find that bidders do respond to outside options and to variations of common knowledge about competitors' outside options. However, overbidding in first-price...
Persistent link: https://www.econbiz.de/10005224401
We study a random effects censored regression model in the context of repeated games. Introducing a feedback variable into the model leads to violation of the strict exogeneity assumption, thus rendering the random effects estimator inconsistent. Using the example of contributions to a public...
Persistent link: https://www.econbiz.de/10010552262