Level-k Auctions: Can a nonequilibrium model of strategic thinking explain the winner's curse and overbidding in private-value auctions?

Econometrica

Volumn 75, Issue 6, 2007, Pages 1721-1770

  Crawford, Vincent P ^a   Iriberri, Nagore ^b  

^a UNIVERSITY OF CALIFORNIA   (United States)

^b DEPARTMENT OF ECONOMICS AND BUSINESS   (Spain)

Author keywords

Behavioral game theory; Bounded rationality; Common value auctions; Experiments; Level k model; Nonequilibrium strategic thinking; Overbidding; Winner's curse

Indexed keywords

EID: 35448929989     PISSN: 00129682     EISSN: 14680262     Source Type: Journal    
DOI: 10.1111/j.1468-0262.2007.00810.x     Document Type: Article

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