TY  - JOUR
ID  - publications2350
UR  - http://tse-fr.eu/pub/20593
IS  - 2
A1  - Armantier, Olivier
A1  - Treich, Nicolas
Y1  - 2009/08//
N2  - There is a debate about whether risk aversion is the main source of overbidding in a first-price independent private values auction. As an alternative, we adopt a non-expected utility framework, and identify an interpretable property on the probability weighting function which always induces overbidding.
PB  - Elsevier
JF  - Economics Letters
VL  - 104
SN  - 0165-1765
TI  - Star-Shaped Probability Weighting Functions and Overbidding in First-Price Auctions
SP  - 83
AV  - public
EP  - 85
ER  -