[英文文献] Strategic bidding in a private value experimental auction with positive and... [推广有奖]

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资管896 发表于 2006-4-7 21:51:41 |AI写论文

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英文文献：Strategic bidding in a private value experimental auction with positive and negative bids
英文文献作者：Lee, Ji Yong,Fox, John A. (Sean)
英文文献摘要：
We treat a difference in initial bids for two private goods as an endogenous “induced” value. Results from follow up auctions eliciting positive or negative bids to exchange one good for the other suggest that positive WTP bids are demand revealing while subjects tended to overbid (in absolute value) negative WTA values. Controlling for risk attitude in WTA bids is shown to partially explain the WTA overbidding. WTA bids tended to be lower in a random nth price auction compared to those elicited in a 5th price auction.