Risk aversion in auctions with asymmetrically informed bidders: A "desensitizer" from uncertainty
In the context of first-price auctions with asymmetrically informed bidders, we show that risk aversion not only increases a player's bid, but also makes him less sensitive to the probability that other bidders are informed about his private valuation.
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- repec:oup:restud:v:74:y:2007:i:3:p:705-731 is not listed on IDEAS
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