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Hypothetical thinking and the winner's curse: An experimental investigation

URN to cite this document:
urn:nbn:de:bvb:355-epub-363045
DOI to cite this document:
10.5283/epub.36304
Moser, Johannes
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Date of publication of this fulltext: 10 Nov 2017 09:45


Abstract

There is evidence that bidders fall prey to the winner's curse because they fail to extract information from hypothetical events - like winning an auction. This paper investigates experimentally whether bidders in a common value auction perform better when the requirements for this cognitive issue - also denoted by contingent reasoning - are relaxed, leaving all other parameters unchanged. The ...

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