Self serving reference points in double auctions

Autor:	Husnain Fateh Ahmad
Rok vydání:	2019
Předmět:	Economics and Econometrics 050208 finance 0502 economics and business 05 social sciences Econometrics Economics Common value auction Self-serving bias 050207 economics Individual level
Zdroj:	Bulletin of Economic Research. 72:77-85
ISSN:	1467-8586 0307-3378
DOI:	10.1111/boer.12214
Popis:	We present a novel approach for modelling self serving bias by way of reference dependence. Bias is modelled as a systematic individual level deviation of the endogenous reference point from the expected price of a good in a two person k‐double auction. We find that bias decreases the efficiency of the model, and that efficiency is decreasing in both the level of bias and reference dependence.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::d8cb1150a1f7398ee015505846f8126f https://doi.org/10.1111/boer.12214 Zobrazit plný text záznamu Plný text