The bidder’s curse

Malmendier (2011) · American Economic Review · Read the paper

42 per cent of board-game auctions exceed the simultaneous fixed price on the same page; 48 per cent in a broad cross-section; 17 per cent of bidders suffice to generate the overbidding; limited attention most consistent. Byline order on the AER page is Malmendier, then Lee.

42 per cent of board-game auctions exceed the simultaneous fixed price on the same page; 48 per cent in a broad cross-section; 17 per cent of bidders suffice to generate the overbidding; limited attention most consistent. Byline order on the AER page is Malmendier, then Lee.

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.

doi:10.1257/aer.101.2.749. Abstract read: 42 per cent of board-game auctions exceed the simultaneous fixed price on the same page; 48 per cent in a broad cross-section; 17 per cent of bidders suffice to generate the overbidding; limited attention most consistent. Byline order on the AER page is Malmendier, then Lee.