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In International Journal of Industrial Organization December 2023 91
It is commonly observed that prices for identical items decline over time within sequences of auctions. We conduct a laboratory experiment to test whether ambiguity aversion can explain decreasing prices.
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Autor:
Bougt, Daniel
Essay I (with Gagan Ghosh and Heng Liu). The existence of declining prices in sequential auctions is a well-documented empirical pattern. Three explanations that can explain the puzzle are bidders being risk averse, loss averse, or ambiguity averse.
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https://explore.openaire.eu/search/publication?articleId=dedup_wf_001::dcfef3a639e09c2475cb6d9d443cd02a
http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-472774
http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-472774