I won the auction but don’t want the prize
419 MBA students at Boston University, 48 sealed-bid auctions, jars worth $8.00; mean estimate $5.13; mean winning bid $10.01; average loss $2.01; uncertainty and number of bidders widen the curse.
419 MBA students at Boston University, 48 sealed-bid auctions, jars worth $8.00; mean estimate $5.13; mean winning bid $10.01; average loss $2.01; uncertainty and number of bidders widen the curse.
Written from the full text read 2026-10-12.
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doi:10.1177/0022002783027004003. Full text read: 419 MBA students at Boston University, 48 sealed-bid auctions, jars worth $8.00; mean estimate $5.13; mean winning bid $10.01; average loss $2.01; uncertainty and number of bidders widen the curse.