메뉴 건너뛰기




Volumn 51, Issue 1, 2005, Pages 155-170

Impulse balance equilibrium and feedback in first price auctions

Author keywords

Auctions; Bounded rationality; Ex post rationality; Experiments; Feedback; Learning; Overbidding; Social comparison

Indexed keywords


EID: 14644399262     PISSN: 08998256     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.geb.2004.04.002     Document Type: Article
Times cited : (100)

References (35)
  • 1
    • 0010832437 scopus 로고    scopus 로고
    • An experimental analysis of ending rules in internet auctions
    • University of Cologne, Cologne, Germany Working Paper
    • Ariely D. Ockenfels A. Roth A.E. 2004 An experimental analysis of ending rules in internet auctions. Working paper. University of Cologne, Cologne, Germany
    • (2004)
    • Ariely, D.1    Ockenfels, A.2    Roth, A.E.3
  • 2
    • 1542799877 scopus 로고
    • The effect of varying number of bidders in first-price private value auctions: An application of a dual market bidding technique
    • L. Green J.H. Kagel (Eds.) Ablex Norwood, NJ
    • R.C. Battalio C.A. Kogut D.J. Meyer The effect of varying number of bidders in first-price private value auctions: An application of a dual market bidding technique In: L. Green J.H. Kagel (Eds.) Advances in Behavioral Economics vol. 2 1990 Ablex Norwood, NJ
    • (1990) Advances in Behavioral Economics , vol.2
    • Battalio, R.C.1    Kogut, C.A.2    Meyer, D.J.3
  • 3
    • 0000885425 scopus 로고    scopus 로고
    • ERC - A theory of equity, reciprocity and competition
    • G. Bolton A. Ockenfels ERC - A theory of equity, reciprocity and competition Amer. Econ. Rev. 90 1 2000 166-193
    • (2000) Amer. Econ. Rev. , vol.90 , Issue.1 , pp. 166-193
    • Bolton, G.1    Ockenfels, A.2
  • 5
    • 18644365144 scopus 로고    scopus 로고
    • Experience-weighted attraction learning in normal-form games
    • C.F. Camerer T. Ho Experience-weighted attraction learning in normal-form games Econometrica 67 1999 827-874
    • (1999) Econometrica , vol.67 , pp. 827-874
    • Camerer, C.F.1    Ho, T.2
  • 6
    • 0000866795 scopus 로고    scopus 로고
    • Price formation in single call markets
    • T.N. Cason D. Friedman Price formation in single call markets Econometrica 65 2 1997 311-345
    • (1997) Econometrica , vol.65 , Issue.2 , pp. 311-345
    • Cason, T.N.1    Friedman, D.2
  • 7
    • 0011798338 scopus 로고    scopus 로고
    • Learning in a laboratory market with random supply and demand
    • T.N. Cason D. Friedman Learning in a laboratory market with random supply and demand Exper. Econ. 2 1999 77-98
    • (1999) Exper. Econ. , vol.2 , pp. 77-98
    • Cason, T.N.1    Friedman, D.2
  • 8
    • 0002466635 scopus 로고
    • Theory and behavior of single object auctions
    • V.L. Smith (Ed.) JAI Press Greenwich, CT
    • J.C. Cox B. Roberson V.L. Smith Theory and behavior of single object auctions In: V.L. Smith (Ed.) Research in Experimental Economics vol. 2 1982 JAI Press Greenwich, CT
    • (1982) Research in Experimental Economics , vol.2
    • Cox, J.C.1    Roberson, B.2    Smith, V.L.3
  • 9
    • 0010094768 scopus 로고
    • Theory and behavior of multiple unit discriminative auctions
    • J.C. Cox V.L. Smith J.M. Walker Theory and behavior of multiple unit discriminative auctions J. Finance 39 1984 983-1010
    • (1984) J. Finance , vol.39 , pp. 983-1010
    • Cox, J.C.1    Smith, V.L.2    Walker, J.M.3
  • 10
    • 33845593363 scopus 로고
    • Theory and individual behavior of first price auctions
    • J.C. Cox V.L. Smith J.M. Walker Theory and individual behavior of first price auctions J. Risk Uncertainty 1 1988 61-99
    • (1988) J. Risk Uncertainty , vol.1 , pp. 61-99
    • Cox, J.C.1    Smith, V.L.2    Walker, J.M.3
  • 11
    • 0001939658 scopus 로고
    • Adaptive dynamics in coordination games
    • V.P. Crawford Adaptive dynamics in coordination games Econometrica 63 1995 103-143
    • (1995) Econometrica , vol.63 , pp. 103-143
    • Crawford, V.P.1
  • 12
    • 14644386514 scopus 로고
    • The effects of alternative liability fees on the price and quality of audit services: A laboratory market study
    • University of Iowa Working Paper
    • DeJong D.V. Forsythe R. Uecker W.C. 1984 The effects of alternative liability fees on the price and quality of audit services: A laboratory market study. Working paper. University of Iowa
    • (1984)
    • DeJong, D.V.1    Forsythe, R.2    Uecker, W.C.3
  • 13
    • 0034582353 scopus 로고    scopus 로고
    • Price competition and market concentration: An experimental study
    • M. Dufwenberg U. Gneezy Price competition and market concentration: An experimental study Int. J. Ind. Organ. 18 2000 7-22
    • (2000) Int. J. Ind. Organ. , vol.18 , pp. 7-22
    • Dufwenberg, M.1    Gneezy, U.2
  • 14
    • 0036109506 scopus 로고    scopus 로고
    • Information disclosure in auctions: An experiment
    • M. Dufwenberg U. Gneezy Information disclosure in auctions: An experiment J. Econ. Behav. Organ. 48 2002 431-444
    • (2002) J. Econ. Behav. Organ. , vol.48 , pp. 431-444
    • Dufwenberg, M.1    Gneezy, U.2
  • 15
    • 0000773694 scopus 로고    scopus 로고
    • A theory of fairness, competition, and cooperation
    • E. Fehr K. Schmidt A theory of fairness, competition, and cooperation Quart. J. Econ. 114 1999 817-868
    • (1999) Quart. J. Econ. , vol.114 , pp. 817-868
    • Fehr, E.1    Schmidt, K.2
  • 16
    • 0003748754 scopus 로고    scopus 로고
    • z-Tree. Zurich toolbox for readymade economic experiments
    • University of Zurich Working Paper
    • Fischbacher U. 1998 z-Tree. Zurich toolbox for readymade economic experiments. Working paper. University of Zurich
    • (1998)
    • Fischbacher, U.1
  • 17
    • 4544266971 scopus 로고    scopus 로고
    • Experienced bidders in online second-price auctions
    • University of California Working Paper
    • Garratt R. Walker M. Wooders J. 2002 Experienced bidders in online second-price auctions. Working paper. University of California
    • (2002)
    • Garratt, R.1    Walker, M.2    Wooders, J.3
  • 18
    • 0000709936 scopus 로고
    • Theory and misbehavior of first-price auctions
    • G. Harrison Theory and misbehavior of first-price auctions Amer. Econ. Rev. 79 1989 749-762
    • (1989) Amer. Econ. Rev. , vol.79 , pp. 749-762
    • Harrison, G.1
  • 19
    • 0034582213 scopus 로고    scopus 로고
    • Does information about competitors' actions increase or decrease competition in experimental oligopoly markets?
    • S. Huck H.-T. Normann J. Oechssler Does information about competitors' actions increase or decrease competition in experimental oligopoly markets? Int. J. Ind. Organ. 18 2000 39-57
    • (2000) Int. J. Ind. Organ. , vol.18 , pp. 39-57
    • Huck, S.1    Normann, H.-T.2    Oechssler, J.3
  • 20
    • 0000345273 scopus 로고
    • Information and conspiracy in sealed bid auctions
    • R.M. Isaac J.M. Walker Information and conspiracy in sealed bid auctions J. Econ. Behav. Organ. 6 1985 139-159
    • (1985) J. Econ. Behav. Organ. , vol.6 , pp. 139-159
    • Isaac, R.M.1    Walker, J.M.2
  • 22
    • 0000856236 scopus 로고
    • Independent private value auctions: Bidder behavior in first-, second- and third-price auctions with varying numbers of bidders
    • J. Kagel D. Levine Independent private value auctions: Bidder behavior in first-, second- and third-price auctions with varying numbers of bidders Econ. J. 103 1993 868-879
    • (1993) Econ. J. , vol.103 , pp. 868-879
    • Kagel, J.1    Levine, D.2
  • 23
    • 14644387181 scopus 로고
    • Comment on Harrison vs. Cox, Smith and Walker: Theory and misbehavior in first-price auctions
    • J. Kagel A.E. Roth Comment on Harrison vs. Cox, Smith and Walker: Theory and misbehavior in first-price auctions Amer. Econ. Rev. 82 1992 247-258
    • (1992) Amer. Econ. Rev. , vol.82 , pp. 247-258
    • Kagel, J.1    Roth, A.E.2
  • 24
    • 0002654730 scopus 로고    scopus 로고
    • What Really Matters in Auction Design
    • P. Klemperer What Really Matters in Auction Design J. Econ. Perspect. 16 1 2002 169-189
    • (2002) J. Econ. Perspect. , vol.16 , Issue.1 , pp. 169-189
    • Klemperer, P.1
  • 25
    • 0344705995 scopus 로고    scopus 로고
    • The spite motive and equilibrium behavior in auctions
    • Article 5. Also available at:
    • J. Morgan K. Steiglitz G. Reis The spite motive and equilibrium behavior in auctions Contributions to Economic Analysis & Policy 2 1 2003 Article 5. Also available at: http://www.bepress.com/bejeap/ contributions/vol2/iss1/art5
    • (2003) Contributions to Economic Analysis & Policy , vol.2 , Issue.1
    • Morgan, J.1    Steiglitz, K.2    Reis, G.3
  • 27
    • 33645930975 scopus 로고    scopus 로고
    • Late bidding in second price internet auctions: Theory and evidence concerning different rules for ending an auction
    • in press
    • Ockenfels A. Roth A.E. in press. Late bidding in second price internet auctions: Theory and evidence concerning different rules for ending an auction Games Econ. Behav
    • Games Econ. Behav.
    • Ockenfels, A.1    Roth, A.E.2
  • 28
    • 0001135422 scopus 로고
    • Industrial organization and experimental economics
    • C. Plott Industrial organization and experimental economics J. Econ. Lit. 20 1982 1485-1587
    • (1982) J. Econ. Lit. , vol.20 , pp. 1485-1587
    • Plott, C.1
  • 29
    • 58149324992 scopus 로고
    • Learning in extensive-form games: Experimental data and simple dynamic models in the intermediate term
    • A.E. Roth I. Erev Learning in extensive-form games: Experimental data and simple dynamic models in the intermediate term Games Econ. Behav. 8 1995 164-212
    • (1995) Games Econ. Behav. , vol.8 , pp. 164-212
    • Roth, A.E.1    Erev, I.2
  • 30
    • 0003288460 scopus 로고    scopus 로고
    • Last-minute bidding and the rules for ending second-price auctions: Evidence from eBay and Amazon auctions on the internet
    • A.E. Roth A. Ockenfels Last-minute bidding and the rules for ending second-price auctions: Evidence from eBay and Amazon auctions on the internet Amer. Econ. Rev. 92 4 2002 1093-1103
    • (2002) Amer. Econ. Rev. , vol.92 , Issue.4 , pp. 1093-1103
    • Roth, A.E.1    Ockenfels, A.2
  • 31
    • 0000998041 scopus 로고    scopus 로고
    • Features of experimentally observed bounded rationality. Presidential address
    • R. Selten Features of experimentally observed bounded rationality. Presidential address Europ. Econ. Rev. 42 1998 413-436
    • (1998) Europ. Econ. Rev. , vol.42 , pp. 413-436
    • Selten, R.1
  • 32
    • 0037741710 scopus 로고    scopus 로고
    • Learning direction theory and the winner's curse
    • University of Bonn Working Paper
    • Selten R. Abbink K. Cox R. 2002 Learning direction theory and the winner's curse. Working paper. University of Bonn
    • (2002)
    • Selten, R.1    Abbink, K.2    Cox, R.3
  • 33
    • 0007340610 scopus 로고    scopus 로고
    • Experimental sealed bid first price auctions with directly observed bid functions
    • D. Budescu I. Erev R. Zwick (Eds.) Lawrenz Associates, Mahwah NJ
    • R. Selten J. Buchta Experimental sealed bid first price auctions with directly observed bid functions In: D. Budescu I. Erev R. Zwick (Eds.) Games and Human Behavior: Essays in the Honor of Amnon Rapoport 1999 Lawrenz Associates, Mahwah NJ
    • (1999) Games and Human Behavior: Essays in the Honor of Amnon Rapoport
    • Selten, R.1    Buchta, J.2
  • 34
    • 46149136660 scopus 로고
    • End behavior in sequences of finite prisoner's dilemma supergames
    • R. Selten R. Stoecker End behavior in sequences of finite prisoner's dilemma supergames J. Econ. Behav. Organ. 7 1986 47-70
    • (1986) J. Econ. Behav. Organ. , vol.7 , pp. 47-70
    • Selten, R.1    Stoecker, R.2
  • 35
    • 84977681201 scopus 로고
    • Bidding behavior in sealed bid discriminative auctions: An experimental analysis of multiple sequence auctions with variations in auction information
    • University of Arizona
    • Walker J.M. Smith V.L. Cox J.C. 1983 Bidding behavior in sealed bid discriminative auctions: An experimental analysis of multiple sequence auctions with variations in auction information. Working paper. University of Arizona
    • (1983) Working Paper
    • Walker, J.M.1    Smith, V.L.2    Cox, J.C.3


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.