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An experimental study of precautionary bidding : conference paper

Kocher, Martin; Pahlke, Julius; Trautmann, Stefan T. - 2013

Auctions often involve goods exhibiting a common knowledge ex-post risk. Precautionary bidding predicts that under expected utility, ex-post risk leads DARA bidders to reduce their bids by more than the appropriate risk premium. Because the degree of riskiness of the good, and bidders risk...

Persistent link: https://www.econbiz.de/10010344662

Spite vs. risk : explaining overbidding

Kirchkamp, Oliver; Mill, Wladislaw - 2019

In this paper we use an experiment to compare a theory of risk aversion and a theory of spite as an explanation for … overbidding in auctions. As a workhorse we use the second-price all-pay and the first-price winner-pay auction. Both risk and …. Indeed, we find that spite is a more convincing explanation for bidding behavior for the second-price all-pay auction. Not …

Persistent link: https://www.econbiz.de/10012002983

Split-award procurement auctions : can Bayesian equilibrium strategies predict human bidding behavior in multi-object auctions?

Bichler, Martin; Güler, Kemal; Mayer, Stefan - In: Production and operations management : an international … 24 (2015) 6, pp. 1012-1027

Persistent link: https://www.econbiz.de/10011296723

Elicited bid functions in (a)symmetric first-price auctions

Pezanis-Christou, Paul (contributor); … - 2003 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001784513

The Impact of Participant’s Risk Attitude on Auctions Results : An Experimental Approach to Electricity Markets

Kunz, Friedrich; Baumgärtner, Michael; Seeliger, … - 2009

We analyze the impact of the risk attitude of participating subjects in both single-sided uniform and pay-as-bid auctions using an experimental approach. The experiments are conducted in a stable demand environment with homogeneous groups, each consisting of five participants that exhibit either...

Persistent link: https://www.econbiz.de/10014202724

Does Risk Aversion Cause Overbidding? New Experimental Evidence from First Price Sealed Bid Auctions

Füllbrunn, Sascha - 2019

design which directly tests this relationship by controlling for the distribution of risk attitudes in auction markets. We …

Persistent link: https://www.econbiz.de/10012903088

Detection of Loss Aversion in Auctions Against Pre-Programmed Computers

Kim, Dong-Hyuk; Ratan, Anmol - 2023

We run experiments of first-price auctions with two groups, by which we directly detect the presence of bidders’ loss-aversion. Each human bidder bids against three preprogrammed computer bidders. The computer bidders independently draw their values from the uniform distribution and bid their...

Persistent link: https://www.econbiz.de/10014357107

Pay-to-bid auctions : to bid or not to bid

Kakhbod, Ali - In: Operations research letters 41 (2013) 5, pp. 462-467

Persistent link: https://www.econbiz.de/10010189860

The role of risk preferences in pay-to-bid auctions

Platt, Brennan C.; Price, Joseph; Tappen, Henry - In: Management science : journal of the Institute for … 59 (2013) 9, pp. 2117-2134

Persistent link: https://www.econbiz.de/10010195590

Do auctioneers pick optimal reserve prices?

Davis, Andrew M.; Katok, Elena; Kwasnica, Anthony M. - In: Management science : journal of the Institute for … 57 (2011) 1, pp. 177-192

Persistent link: https://www.econbiz.de/10008858561