Spite vs. risk: explaining overbidding

In this paper we use an experiment to compare a theory of risk aversion and a theory of spite as an explanation for overbidding in auctions. As a workhorse we use the second-price all-pay and the first-price winner-pay auction. Both risk and spite can be used to rationalize deviations from risk neut...

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Bibliographic details
Main Author: Kirchkamp, Oliver
Mill, Wladislaw
Format: Publication
Language: English
Place of publication: Munich: Center for Economic Studies and Ifo Institute (CESifo) 01.01.2019
Data of publication: 2019-01-01
Dewey Decimal Classification: 330
Discipline: Economics
Online Access: available in Bonn?
Database: OpenAIRE (Open Access)
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