Sutter, Matthias; Kocher, Martin; Strauß, Sabine - 2007
common
knowledge. The types are randomly assigned to bidders at the beginning of the experiment
and remain fixed throughout …
7 Incumbents might have a better knowledge of the market and a better reputation with future customers.
Therefore, a …, the lack of precise knowledge of the common value
component leads to a more frequent occurrence of the winner’s curse in …