Article ID Journal Published Year Pages File Type
5072016 Games and Economic Behavior 2012 29 Pages PDF
Abstract
► Bidding in experimental procurement auctions with avoidable fixed costs. ► Market outcomes are volatile and deviate from equilibrium. ► Measures of optimization difficulty help to explain non-best response bidding. ► Risk and loss preferences do not explain bids consistently across different auctions.
Keywords
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
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Explaining deviations from equilibrium in auctions with avoidable fixed costs
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