Title Common value auctions and the winner's curse / John H. Kagel and Dan Levin

Published Princeton, N.J. : Princeton University Press, ©2002

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Description 1 online resource (xvi, 401 pages) : illustrations Contents Bidding in common value auctions: a survey of experimental research / John H. Kagel, Dan Levin -- First-price common value auctions: bidder behavior and the "winner's curse" / John H. Kagel [and others] -- Winner's curse and public information in common value auctions / John H. Kagel, Dan Levin -- Comparative static effects of number of bidders and public information on behavior in second-price common value auctions / John H. Kagel, Dan Levin, Ronald M. Harstad -- Information impact and allocation rules in auctions with affiliated private values: a laboratory study / John H. Kagel, Ronald M. Harstad, Dan Levin -- Revenue effects and information processing in English common value auctions / Dan Levin, John H. Kagel, Jean-François Richard -- Common value auctions with insider information / John H. Kagel, Dan Levin -- Can the seller benefit from an insider in common-value auctions? / Colin Campbell, Dan Levin -- Second-price auctions with asymmetric payoffs: an experimental investigation / Christopher Avery, John H. Kagel -- Learning in common value auctions: some initial observations / Susan Garvin, John H. Kagel -- Cross-game learning: experimental evidence from first-price and English common value auctions / John H. Kagel -- Comparison of naive and experienced bidders in common value offer auctions: a laboratory analysis / Douglas Dyer, John H. Kagel, Dan Levin -- Bidding in common value auctions: how the commercial construction industry corrects for the winner's curse / Douglas Dyer, John H. Kagel Summary Few forms of market exchange intrigue economists as do auctions, whose theoretical and practical implications are enormous. John Kagel and Dan Levin, complementing their own distinguished research with papers written with other specialists, provide a new focus on common value auctions and the "winner's curse." In such auctions the value of each item is about the same to all bidders, but different bidders have different information about the underlying value. Virtually all auctions have a common value element; among the burgeoning modern-day examples are those organized by Internet companies su Bibliography Includes bibliographical references and index Notes English Print version record Subject Auctions. Paradoxes. Value. value (economic concept) BUSINESS & ECONOMICS -- Industries -- Retailing. BUSINESS & ECONOMICS -- Marketing -- Direct. TRAVEL -- Shopping. BUSINESS & ECONOMICS -- Investments & Securities -- General. Auctions Paradoxes Value Veilingen. Paradoxen. Economische waarde. Form Electronic book Author Levin, Dan, 1947- ISBN 9781400830138 1400830133 9780691016672 0691016674 1282158759 9781282158757 9786612158759 6612158751

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