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Träfflista för sökning "AMNE:(SOCIAL SCIENCES Business and economics) ;pers:(Sutter Matthias 1968)"

Sökning: AMNE:(SOCIAL SCIENCES Business and economics) > Sutter Matthias 1968

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  • Sutter, Matthias, 1968, et al. (författare)
  • Individuals and teams in auctions
  • 2009
  • Ingår i: Oxford Economic Papers. - : Oxford University Press (OUP). - 0030-7653 .- 1464-3812. ; 61:2, s. 380-394
  • Tidskriftsartikel (refereegranskat)abstract
    • Experimental studies on bidding in auctions have so far relied on individual bidders, even though teams are often involved in real auctions. We examine the bidding behaviour of individuals and teams. Our experimental results show that teams stay longer in an (ascending sealed-bid English) auction and pay significantly higher prices than individuals. Consequently, teams make smaller profits and suffer more often from the winner's curse. The auction's efficiency is nevertheless higher with teams, since bidders with the highest valuation are more likely to win the auction when teams bid. We relate our findings to the European UMTS-spectrum auctions.
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  • Sutter, Matthias, 1968, et al. (författare)
  • Strategic Sophistication of Individuals and Teams in Experimental Normal-Form Games
  • 2010
  • Rapport (övrigt vetenskapligt/konstnärligt)abstract
    • We present an experiment on strategic thinking and behavior of individuals and teams in oneshot normal-form games. Besides making choices, decision makers have to state their firstand second-order beliefs. We find that teams play the Nash strategy significantly more often, and their choices are more often consistent by being a best reply to first order beliefs. We identify the complexity of a game and the payoffs in equilibrium as determining the likelihood of consistent behavior according to textbook rationality. Using a mixture model, the estimated probability to play strategically is 62% for teams, but only 40% for individuals.
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