Does displaying probabilities affect bidding in first-price auctions?

DOI10.1016/J.ECONLET.2014.11.004zbMATH Open1321.91021OpenAlexW1965730783MaRDI QIDQ498773FDOQ498773

Authors: Anmol Ratan 

Publication date: 29 September 2015

Published in: Economics Letters (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/j.econlet.2014.11.004

Recommendations

• Explaining overbidding in first price auctions using controlled lotteries
• Does regret matter in first-price auctions?
• Bidding `as if' risk neutral in experimental first price auctions without information feedback
• Star-shaped probability weighting functions and overbidding in first-price auctions
• Bidding in private-value auctions with uncertain values

zbMATH Keywords

ambiguityprobability weightinglaboratory experimentsauctionperceptual errors

Mathematics Subject Classification ID

Auctions, bargaining, bidding and selling, and other market models (91B26) Experimental studies (91A90)

Cites Work

• Level-k Auctions: Can a Nonequilibrium Model of Strategic Thinking Explain the Winner's Curse and Overbidding in Private-Value Auctions?
• Ambiguity aversion in first-price sealed-bid auctions
• Impulse balance equilibrium and feedback in first price auctions
• Individual behavior of first-price auctions: the importance of information feedback in computerized experimental markets
• Explaining overbidding in first price auctions using controlled lotteries

Cited In (8)

• Explaining overbidding in first price auctions using controlled lotteries
• Do practice rounds affect experimental auction results?
• Title not available (Why is that?)
• Robust inference in first-price auctions: overbidding as an identifying restriction
• Does regret matter in first-price auctions?
• Reference dependence, expectations and anchoring in the Becker-DeGroot-Marschak mechanism
• Multi-dimensional reference-dependent preferences in sealed-bid auctions -- how (most) laboratory experiments differ from the field
• Separating probability weighting and risk aversion in first-price auctions

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