Risk and ambiguity in first-price sealed-bid auctions: an experiment
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Show full item recordcomunitat-uji-handle:10234/158176
comunitat-uji-handle2:10234/71324
comunitat-uji-handle3:10234/111700
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Title
Risk and ambiguity in first-price sealed-bid auctions: an experimentAuthor (s)
Tutor/Supervisor; University.Department
Jaramillo Gutiérrez, AinhoaDate
2022-06-05Publisher
Universitat Jaume IAbstract
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. [-]
Subject
Description
Treball Final de Grau en Economia. Codi: EC1049. Curs acadèmic: 2021/2022
Type
info:eu-repo/semantics/bachelorThesisRights
info:eu-repo/semantics/openAccess
This item appears in the folowing collection(s)
- Grau en Economia [292]