A comment on "Can relaxation of beliefs rationalize the winner's curse? An experimental study"

M.A. Costa-Gomes; M. Shimoji

doi:10.3982/ECTA11000

A comment on "Can relaxation of beliefs rationalize the winner's curse? An experimental study"

M.A. Costa-Gomes, M. Shimoji

Research output: Contribution to journal › Article › peer-review

Abstract

Ivanov, Levin, and Niederle (2010) use a common-value second-price auction experiment to reject beliefs-based explanations for the winner's curse. ILN's conclusion, however, stems from the misuse of theoretical arguments. Beliefs-based models are even compatible with some observations from ILN's experiment.

Original language	English
Pages (from-to)	375-383
Number of pages	9
Journal	Econometrica
Volume	83
Issue number	1
Early online date	18 Feb 2015
DOIs	https://doi.org/10.3982/ECTA11000
Publication status	Published - 18 Feb 2015

Keywords

Beliefs-based models
Common-value auctions
Experiments

Access to Document

10.3982/ECTA11000

CGS-AppendixAccepted author manuscript, 182 KB
CGS-ILN
The copyright to this article is held by the Econometric Society, http://www.econometricsociety.org/. It may be downloaded, printed and reproduced only for personal or classroom use. Absolutely no downloading or copying may be done for, or on behalf of, any for-profit commercial firm or for other commercial purpose without the explicit permission of the Econometric Society. For this purpose, contact the Editorial Office of the Econometric Society at [email protected].
Accepted author manuscript, 263 KB

Cite this

@article{69151b8f4ab64009afd3d6e791499807,

title = "A comment on {"}Can relaxation of beliefs rationalize the winner's curse? An experimental study{"}",

abstract = "Ivanov, Levin, and Niederle (2010) use a common-value second-price auction experiment to reject beliefs-based explanations for the winner's curse. ILN's conclusion, however, stems from the misuse of theoretical arguments. Beliefs-based models are even compatible with some observations from ILN's experiment.",

keywords = "Beliefs-based models, Common-value auctions, Experiments",

author = "M.A. Costa-Gomes and M. Shimoji",

year = "2015",

month = feb,

day = "18",

doi = "10.3982/ECTA11000",

language = "English",

volume = "83",

pages = "375--383",

journal = "Econometrica",

issn = "0012-9682",

publisher = "Wiley-Blackwell",

number = "1",

}

TY - JOUR

T1 - A comment on "Can relaxation of beliefs rationalize the winner's curse? An experimental study"

AU - Costa-Gomes, M.A.

AU - Shimoji, M.

PY - 2015/2/18

Y1 - 2015/2/18

N2 - Ivanov, Levin, and Niederle (2010) use a common-value second-price auction experiment to reject beliefs-based explanations for the winner's curse. ILN's conclusion, however, stems from the misuse of theoretical arguments. Beliefs-based models are even compatible with some observations from ILN's experiment.

AB - Ivanov, Levin, and Niederle (2010) use a common-value second-price auction experiment to reject beliefs-based explanations for the winner's curse. ILN's conclusion, however, stems from the misuse of theoretical arguments. Beliefs-based models are even compatible with some observations from ILN's experiment.

KW - Beliefs-based models

KW - Common-value auctions

KW - Experiments

U2 - 10.3982/ECTA11000

DO - 10.3982/ECTA11000

M3 - Article

AN - SCOPUS:84923067799

SN - 0012-9682

VL - 83

SP - 375

EP - 383

JO - Econometrica

JF - Econometrica

IS - 1

ER -

A comment on "Can relaxation of beliefs rationalize the winner's curse? An experimental study"

Abstract

Keywords

Access to Document

Fingerprint

Cite this