TY  - RPRT
ID  - publications3199
UR  - http://tse-fr.eu/pub/22143
A1  - Armantier, Olivier
A1  - Treich, Nicolas
Y1  - 2009/03//
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  - TSE Working Paper
T3  - TSE Working Paper
KW  - probability weighting function
KW  - auctions
KW  - overbidding
KW  - non-expected utility
KW  - risk aversion
M1  - working_paper
TI  - Star-Shaped Probability Weighting Functions and Overbidding in First-Price Auctions
AV  - public
ER  -