| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5072055 | Games and Economic Behavior | 2012 | 21 Pages |
Abstract
⺠The effect of joint bidding in first-price auctions is studied experimentally. ⺠The results are partially consistent with risk-averse Nash equilibrium predictions. ⺠The decrease in the sellerʼs revenue is lower than expected while efficiency rises. ⺠The incentives to bid jointly are higher than anticipated. ⺠The effect of group decision-making is also studied.
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Authors
Kirill Chernomaz,