Nonlinear behavior in sealed bid first price auctions

DOI10.1006/game.1997.0627zbMath0912.90092OpenAlexW2144401500MaRDI QIDQ1272977

Charles R. Plott, Kay-Yut Chen

Publication date: 2 December 1998

Published in: Games and Economic Behavior (Search for Journal in Brave)

Full work available at URL: https://resolver.caltech.edu/CaltechAUTHORS:20170830-142425505

zbMATH Keywords

first price sealed bid auctionsconstant relative risk aversion model

Mathematics Subject Classification ID

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

Related Items

Varying the number of bidders in the first-price sealed-bid auction: experimental evidence for the one-shot game, Competing first-price and second-price auctions, QUANTUM AUCTIONS, Robust inference in first-price auctions: overbidding as an identifying restriction, Risk averse behavior in generalized matching pennies games., A case of evolutionarily stable attainable equilibrium in the laboratory, Decision making and trade without probabilities, Sealed bid auctions with ambiguity: theory and experiments, Bidding `as if' risk neutral in experimental first price auctions without information feedback, Asymmetric information about rivals' types in standard auctions: an experiment, On the effects of joint bidding in independent private value auctions: An experimental study, Quantal response equilibrium and overbidding in private-value auctions, Discrepancy risk model selection test theory for comparing possibly misspecified or nonnested models, Heterogeneous bids in auctions with rational and boundedly rational bidders: theory and experiment, Experiments with probabilistic quantum auctions, Star-shaped probability weighting functions and overbidding in first-price auctions, Individual behavior of first-price auctions: the importance of information feedback in computerized experimental markets

Cites Work

• Likelihood Ratio Tests for Model Selection and Non-Nested Hypotheses
• A study to zero-out auctions: Testbed experiments of a process of allocating private rights to the use of public property