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001			205841
003			IT-RoAPU
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007			cr || ||||||||
008			210830t20092002nju fo d z eng d
020			_a9780691016672 _qprint
020			_a9781400830138 _qPDF
024	7		_a10.1515/9781400830138 _2doi
035			_a(DE-B1597)9781400830138
035			_a(DE-B1597)446475
035			_a(OCoLC)979685619
040			_aDE-B1597 _beng _cDE-B1597 _erda
050		4	_aHF5476.K27 2002
072		7	_aBUS036000 _2bisacsh
082	0	4	_a381.17
084			_aonline - DeGruyter
100	1		_aKagel, John H. _eautore
245	1	0	_aCommon Value Auctions and the Winner's Curse / _cDan Levin, John H. Kagel.
250			_aCourse Book
264		1	_aPrinceton, NJ : _bPrinceton University Press, _c[2009]
264		4	_c©2002
300			_a1 online resource (424 p.) : _b79 tables. 27 line illus.
336			_atext _btxt _2rdacontent
337			_acomputer _bc _2rdamedia
338			_aonline resource _bcr _2rdacarrier
347			_atext file _bPDF _2rda
505	0	0	_tFrontmatter -- _tContents -- _tPreface -- _tCredits -- _t1 Bidding in Common-Value Auctions: A Survey of Experimental Research -- _t2 First-Price Common-Value Auctions: Bidder Behavior and the "Winner's Curse" -- _t3 The Winner's Curse and Public Information in Common Value Auctions -- _t4 Comparative Static Effects of Number of Bidders and Public Information on Behavior in Second-Price Common Value Auctions -- _t5 Information Impact and Allocation Rules in Auctions with Affiliated Private Values: A Laboratory Study -- _t6 Revenue Effects and Information Processing in English Common Value Auctions -- _t7 Common Value Auctions with Insider Information -- _t8 Can the Seller Benefit from an Insider in Common-Value Auctions? -- _t9 Second-Price Auctions with Asymmetric Payoffs: An Experimental Investigation -- _t10 Learning in Common Value Auctions: Some Initial Observations -- _t11 Cross-Game Learning: Experimental Evidence from First-Price and English Common Value Auctions -- _t12 A Comparison of Naive and Experienced Bidders in Common Value Offer Auctions: A Laboratory Analysis -- _t13 Bidding in Common Value Auctions: How the Commercial Construction Industry Corrects for the Winner's Curse -- _tInstructions -- _tIndex
506	0		_arestricted access _uhttp://purl.org/coar/access_right/c_16ec _fonline access with authorization _2star
520			_aFew forms of market exchange intrigue economists as do auctions, whose theoretical and practical implications are enormous. John Kagel and Dan Levin, complementing their own distinguished research with papers written with other specialists, provide a new focus on common value auctions and the "winner's curse." In such auctions the value of each item is about the same to all bidders, but different bidders have different information about the underlying value. Virtually all auctions have a common value element; among the burgeoning modern-day examples are those organized by Internet companies such as eBay. Winners end up cursing when they realize that they won because their estimates were overly optimistic, which led them to bid too much and lose money as a result. The authors first unveil a fresh survey of experimental data on the winner's curse. Melding theory with the econometric analysis of field data, they assess the design of government auctions, such as the spectrum rights (air wave) auctions that continue to be conducted around the world. The remaining chapters gauge the impact on sellers' revenue of the type of auction used and of inside information, show how bidders learn to avoid the winner's curse, and present comparisons of sophisticated bidders with college sophomores, the usual guinea pigs used in laboratory experiments. Appendixes refine theoretical arguments and, in some cases, present entirely new data. This book is an invaluable, impeccably up-to-date resource on how auctions work--and how to make them work.
530			_aIssued also in print.
538			_aMode of access: Internet via World Wide Web.
546			_aIn English.
588	0		_aDescription based on online resource; title from PDF title page (publisher's Web site, viewed 30. Aug 2021)
650		0	_aAuctions.
650		0	_aParadoxes.
650		0	_aValue.
650		7	_aBUSINESS & ECONOMICS / Investments & Securities / General. _2bisacsh
700	1		_aAvery, Christopher _eautore
700	1		_aBattalio, Raymond C. _eautore
700	1		_aCampbell, Colin M. _eautore
700	1		_aDyer, Douglas _eautore
700	1		_aGarvin, Susan _eautore
700	1		_aHarstad, Ronald M. _eautore
700	1		_aKagel, John H. _eautore
700	1		_aLevin, Dan _eautore
700	1		_aMeyer, Donald J. _eautore
700	1		_aRichard, Jean-Francois _eautore
850			_aIT-RoAPU
856	4	0	_uhttps://doi.org/10.1515/9781400830138
856	4	0	_uhttps://www.degruyter.com/isbn/9781400830138
856	4	2	_3Cover _uhttps://www.degruyter.com/cover/covers/9781400830138.jpg
942			_cEB
999			_c205841 _d205841