Sequential auctions with continuation costs
In: Working papers in economics and econometrics 255
6 Ergebnisse
Sortierung:
In: Working papers in economics and econometrics 255
In: Decision analysis: a journal of the Institute for Operations Research and the Management Sciences, INFORMS, Band 6, Heft 2, S. 75-86
ISSN: 1545-8504
Why do bidders tend to bid higher than the risk-neutral Nash equilibrium in sealed-bid first price auction experiments? The effect of risk aversion has long been offered as a possible explanation. More recently, several studies proposed regret as another explanation, citing strong experimental evidence. But which effect is more important? We design an experiment to separate the effects of risk aversion from those of regret. We find overwhelming evidence in support of the regret model, and virtually no support for the constant relative risk aversion model.
In: Explorations in economic history: EEH, Band 36, Heft 3, S. 232-245
ISSN: 0014-4983
In: The quarterly review of economics and finance, Band 39, Heft 1, S. 113-128
ISSN: 1062-9769
In: Studies in game theory and mathematical economics
In: American economic review, Band 95, Heft 1, S. 472-476
ISSN: 1944-7981