Armantier, Olivier and Treich, Nicolas (2009) Star-Shaped Probability Weighting Functions and Overbidding in First-Price Auctions. Economics Letters, 104 (2). pp. 83-85.

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Identification Number : 10.1016/j.econlet.2009.04.016

Abstract

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.

Item Type: Article
Language: English
Date: August 2009
Refereed: Yes
Subjects: B- ECONOMIE ET FINANCE
Divisions: TSE-R (Toulouse)
Site: UT1
Date Deposited: 18 Jan 2012 05:53
Last Modified: 02 Apr 2021 15:35
OAI Identifier: oai:tse-fr.eu:20593
URI: https://publications.ut-capitole.fr/id/eprint/2350
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