The winner’s curse and public information in common value auctions
Experienced bidders respond to strategic considerations; 3 to 4 bidders fit Nash predictions, 6 to 7 bidders bid more aggressively, producing a winner's curse with negative profits.
Experienced bidders respond to strategic considerations; 3 to 4 bidders fit Nash predictions, 6 to 7 bidders bid more aggressively, producing a winner's curse with negative profits.
Written from the abstract read 2026-10-12.
What our sources record
Reproduced as it was written when this source was checked, figures and all.
Abstract read: experienced bidders respond to strategic considerations; 3 to 4 bidders fit Nash predictions, 6 to 7 bidders bid more aggressively, producing a winner's curse with negative profits.