Asymmetric Auction Experiments With(out) Commonly Known Beliefs
AbstractAre commonly known beliefs essential for bidding behavior in asymmetric auctions? Our experimental results suggest that not informing participants how values are randomly generated does not change behavior much and may even make it appear more rational.
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Bibliographic InfoPaper provided by Max Planck Institute of Economics, Strategic Interaction Group in its series Papers on Strategic Interaction with number 2002-36.
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- Guth, Werner & Ivanova-Stenzel, Radosveta, 2003. "Asymmetric auction experiments with(out) commonly known beliefs," Economics Letters, Elsevier, vol. 80(2), pages 195-199, August.
- D44 - Microeconomics - - Market Structure and Pricing - - - Auctions
- C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
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