Risk and ambiguity in first-price sealed-bid auctions: an experiment
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comunitat-uji-handle2:10234/71324
comunitat-uji-handle3:10234/111700
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Risk and ambiguity in first-price sealed-bid auctions: an experimentAutoria
Tutor/Supervisor; Universitat.Departament
Jaramillo Gutiérrez, AinhoaData de publicació
2022-06-05Editor
Universitat Jaume IResum
It analysed how risk and ambiguity attitudes influenced the decision-making in the
context of first-price sealed-bid auctions. An experiment was conducted, eliciting risk
and ambiguous attitudes and utilising the ... [+]
It analysed how risk and ambiguity attitudes influenced the decision-making in the
context of first-price sealed-bid auctions. An experiment was conducted, eliciting risk
and ambiguous attitudes and utilising the ex-ante information to compare the bids
made. It used the degree of information in an object's valuation to measure bids in
uncertain environments. In the existing literature, the general opinion of academics is
that risk and ambiguity-averse individuals tend to bid more than other behaviour
paths. The results of this experiment suggest that behaviour toward risk attitudes is
not a significant factor in order to explain bids. However, behaviour toward
ambiguous attitudes could explain bid differences in auctions with an uncertain
degree of information on an object's valuation, being ambiguity-averse bidders prone
to bid more. [-]
Paraules clau / Matèries
Descripció
Treball Final de Grau en Economia. Codi: EC1049. Curs acadèmic: 2021/2022
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info:eu-repo/semantics/bachelorThesisDrets d'accés
info:eu-repo/semantics/openAccess
Apareix a les col.leccions
- Grau en Economia [292]