Article ID Journal Published Year Pages File Type
9551766 Games and Economic Behavior 2005 16 Pages PDF
Abstract
Experimental sealed-bid first-price auctions with private values in which feedback on the losing bids is provided yield lower revenues than auctions where this feedback is not given. The concept of weighted impulse balance equilibrium, which is based on a principle of ex-post rationality and incorporates a concern for social comparison, captures the data.
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Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
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Impulse balance equilibrium and feedback in first price auctions
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