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SUPPLEMENT TO “CAN RELAXATION OF BELIEFS RATIONALIZE THE WINNER’S CURSE?:AN EXPERIMENTAL STUDY”
CAN RELAXATION BELIEFS RATIONALIZE WINNER’S CURSE
2015/7/23
This is an experiment in the economics of market decision-making. The National Science Foundation has provided funds for conducting this research.This experiment consists of two parts and is expected ...
CAN RELAXATION OF BELIEFS RATIONALIZE THE WINNER’S CURSE?:AN EXPERIMENTAL STUDY
Common-value auctions winner’s curse beliefs cursed equilibrium level-k model
2015/7/23
We use a second-price common-value auction, called the maximal game, to experimentally study whether the winner’s curse (WC) can be explained by models which retain best-response behavior but allow fo...