Similar Search Results

On the Persistence of Overconfidence : Evidence from Multi-Unit Auctions

Morales-Camargo, Emmanuel - 2013

We analyze pre and post-task confidence in an experiment in which subjects bid in multi-unit common value auctions. Subjects return for a second session, so we are able to assess how performance affects the evolution of confidence. Those with low confidence prior to the first session...

Persistent link: https://www.econbiz.de/10013090267

Effects of government spending on employment : evidence from winners and runners-up in procurement auctions

Gugler, Klaus; Weichselbaumer, Michael; Zulehner, Christine - 2018

To estimate demand for labor, we use a combination of detailed employment data and the outcomes of procurement auctions, and compare the employment of the winner of an auction with the employment of the second ranked firm (i.e. the runner-up firm). Assuming similar ex-ante winning probabilities...

Persistent link: https://www.econbiz.de/10011854110

Identification and Estimation of First-Price Auctions Under Ambiguity

Grundl, Serafin; Zhu, Yu - 2013

This paper studies identification and estimation of first-price auctions if the bidders face ambiguity about the distribution of valuations. Ambiguity is modeled using Gilboa and Schmeidler's (1989) Maxmin Expected Utility preferences. We exploit variation in the number of bidders to identify...

Persistent link: https://www.econbiz.de/10014156136

Risk Aversion in Share Auctions : Estimating Import Rents from TRQs in Switzerland

Häfner, Samuel - 2021

This paper analyzes risk aversion in discriminatory share auctions. I generalize the k-step share auction model of … risk aversion. I also derive necessary conditions for best-response behavior, which allows to fit risk preferences to the …-quality beef. Rents are overestimated and rent extraction is underestimated when ignoring risk aversion. Small bidders (small …

Persistent link: https://www.econbiz.de/10013244684

Identification and Inference in First-Price Auctions with Risk Averse Bidders and Selective Entry

Chen, Xiaohong - 2020

We study identification and inference in first-price auctions with risk averse bidders and selective entry, building on … a flexible entry and bidding framework we call the Affiliated Signal with Risk Aversion (AS-RA) model. Assuming that the …. Given variation in either competition or costs, this characterization implies that risk neutrality is nonparametrically …

Persistent link: https://www.econbiz.de/10012824644

Rent seeking and precautionary bidding in conservation auctions

Wichmann, Bruno - In: Canadian journal of agricultural economics : CJAE 72 (2024) 3, pp. 235-249

Persistent link: https://www.econbiz.de/10015121042

Buying fields and marrying daughters : an empirical analysis of Rosca auctions in a South Indian village

Klonner, Stefan - 2003

Persistent link: https://www.econbiz.de/10001760038

Comparing open and sealed bid auctions : theory and evidence from timber auctions

Athey, Susan; Levin, Jonathan; Seira, Enrique - 2004

Persistent link: https://www.econbiz.de/10002994053

Empirical Implications of Equilibrium Bidding in First-Price, Symmetric, Common Value Auctions

Hendricks, Kenneth; Pinkse, Joris; Porter, Robert H. - 2003

This paper studies federal auctions for wildcat leases on the Outer Continental Shelf from 1959 to 1970. These are leases where bidders privately acquire (at some cost) noisy, but equally informative signals about the amount of oil and gas that may be present. We develop a test of equilibrium...

Persistent link: https://www.econbiz.de/10014175755

Learning Differences in Mixed Common Value Auctions

Goertz, Johanna - 2007

I examine the behavior of subjects in common value auctions with both experienced and inexperienced bidders in the same market. Subjects know that they are competing against both experienced and inexperienced subjects and can observe bidding behavior of their opponents after an auction round....

Persistent link: https://www.econbiz.de/10014224544