Inverse S-shaped probability weighting functions in first-price sealed-bid auctions

DOI10.1007/s10058-015-0183-8zbMath1349.91121OpenAlexW2196697538MaRDI QIDQ283185

Kerim Keskin

Publication date: 13 May 2016

Published in: Review of Economic Design (Search for Journal in Brave)

Full work available at URL: http://hdl.handle.net/11693/36929

zbMATH Keywords

first-price auctionsinverse S-shaped functionsoverbiddingsubjective probability weighting

Mathematics Subject Classification ID

Utility theory (91B16) Auctions, bargaining, bidding and selling, and other market models (91B26)

Related Items (2)

Equilibrium Notions for Agents with Cumulative Prospect Theory Preferences ⋮ Cumulative prospect theory preferences in rent-seeking contests

Cites Work

• Quantal response equilibrium and overbidding in private-value auctions
• Star-shaped probability weighting functions and overbidding in first-price auctions
• Advances in prospect theory: cumulative representation of uncertainty
• Violations of the betweenness axiom and nonlinearity in probability
• Multi-dimensional reference-dependent preferences in sealed-bid auctions -- how (most) laboratory experiments differ from the field
• Ambiguity aversion in first-price sealed-bid auctions
• Prospect Theory: An Analysis of Decision under Risk
• Curvature of the Probability Weighting Function
• The Probability Weighting Function
• The Dual Theory of Choice under Risk
• Level-k Auctions: Can a Nonequilibrium Model of Strategic Thinking Explain the Winner's Curse and Overbidding in Private-Value Auctions?

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