Disentangling risk aversion and loss aversion in first-price auctions: An empirical approach
DH Kim, A Ratan - European Economic Review, 2022 - Elsevier
We develop a model that combines risk averse preferences with anticipated loss aversion to
explain bidding in induced value first-price auctions. In particular, we allow bidders to be …
explain bidding in induced value first-price auctions. In particular, we allow bidders to be …
Risk aversion in share auctions: Estimating import rents from TRQs in Switzerland
S Häfner - Quantitative Economics, 2023 - Wiley Online Library
This paper analyzes risk aversion in discriminatory share auctions. I generalize the k‐step
share auction model of Kastl (2011, 2012) and establish that marginal profits are set …
share auction model of Kastl (2011, 2012) and establish that marginal profits are set …
Nonparametric identification and inference of first-price auctions with heterogeneous bidders
Z Li - Journal of Business & Economic Statistics, 2024 - Taylor & Francis
In the auction literature, it is well established that bidders' asymmetry plays an important role
in determining auction revenues. In this article, we propose a nonparametric methodology to …
in determining auction revenues. In this article, we propose a nonparametric methodology to …
Detection of Loss-Aversion in Auctions against Pre-programmed Computers
DH Kim, A Ratan - Available at SSRN 4169478, 2022 - papers.ssrn.com
We run experiments of first-price auctions with two groups, by which we directly detect the
presence of bidders' loss aversion. Each human bidder bids against three pre-programmed …
presence of bidders' loss aversion. Each human bidder bids against three pre-programmed …
On the Prevalence of Small Reserve Prices in Standard Auctions
A Hernandez-Chanto, DH Kim - Available at SSRN 4411168, 2023 - papers.ssrn.com
We justify the prevalence of small reserve prices in real-life auctions in spite of empirical
findings that suggest optimal reserve prices in those contexts should be higher. We …
findings that suggest optimal reserve prices in those contexts should be higher. We …