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Our study compares individual and team bidding in standard auction formats: first-price, second-price and ascending …-price (English) auctions with independent private values. In a laboratory experiment, we find that individuals overbid more than …
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Overbidding in auctions has been attributed to e.g. risk aversion, loser regret, level-k, and cursedness, relying on … ("cursedness"). Second, re-analyzing data from seven experiments, I show that type projection explains the stylized facts of …
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In an era of intense false impressions, cognitive limitations and imperfect information, where critical challenge is the management of procedural relationships among public procurement partners, it is essential to exploit and identify sources associated with decreasing transparency in...
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