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Overbidding in auctions has been attributed to e.g. risk aversion, loser regret, level-k, and cursedness, relying on varying identifying assumptions. I argue that "type projection" organizes these findings and largely captures observed behavior. Type projection formally models that people tend...
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given a large per-experiment endowment rather than when the endowment is given per-period. Risk-aversion and non …
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more risk averse opponent. In a laboratory experiment we confirm both, the non-monotonic impact and the compensating effect …
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more risk averse opponent. In a laboratory experiment we confirm both, the non-monotonic impact and the compensating effect …
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We investigate the incentive consequences of introducing the possibility of a draw into a lottery contest. Equilibrium total effort unambiguously decreases when draws are introduced, whereas the equilibrium expected winner's effort increases when the contestants' valuations of the prize become...
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