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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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Official URL : http://tse-fr.eu/pub/20593
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 |
