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- W2006564575 abstract "This study presents a laboratory experiment of the first and second price sealed bid auctions with independent private values, where the distribution of bidder valuations may be unknown. In our experimental setting, in the first price auction, bids are lower in the presence of ambiguity. This result is consistent with ambiguity loving in a model that allows for different ambiguity attitudes. We also find that the first price auction generates significantly higher revenue than the second price auction with and without ambiguity." @default.
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- W2006564575 date "2007-01-01" @default.
- W2006564575 modified "2023-10-03" @default.
- W2006564575 title "Sealed Bid Auctions with Ambiguity: Theory and Experiments" @default.
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- W2006564575 doi "https://doi.org/10.2139/ssrn.1148264" @default.
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