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Why do we observe overbidding in first
price private value auctions? This paper aims
to answer this question, which has been extensively
studied in the literature, from a nonstandard
point of view...
Losing the auction at an affordable price generates loser regret. In third price auctions if bidders anticipate
loser regret, then in line with the experimental findings, in a symmetric equilibrium t...
This paper demonstrates theoretically and experimentally that in first price auctions overbidding with respect to the risk neutral Nash equilibrium might be driven
from anticipated loser regret...