Arbeitspapier
Teams and individuals in standard auction formats: Decisions and emotions
Our study compares individual and team bidding in standard auction formats: first-price, second-price and ascending-price (English) auctions with independent private values. In a laboratory experiment, we find that individuals overbid more than teams in first-price auctions and deviate more from bidding their own value in second-price auctions. However we observe no difference in bidding behavior in English auctions. Based on control variables, we claim that the observed difference can be explained by better reasoning abilities of teams. Emotions play a role in determining bids, but the effect of emotions on bidding does not differ between individuals and teams.
- Sprache
-
Englisch
- Erschienen in
-
Series: Discussion Paper ; No. 279
- Klassifikation
-
Wirtschaft
Design of Experiments: Laboratory, Individual
Design of Experiments: Laboratory, Group Behavior
Auctions
- Thema
-
auctions
team decision-making
experiment
overbidding
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Karmeliuk, Maria
Kocher, Martin
- Ereignis
-
Veröffentlichung
- (wer)
-
Ludwig-Maximilians-Universität München und Humboldt-Universität zu Berlin, Collaborative Research Center Transregio 190 - Rationality and Competition
- (wo)
-
München und Berlin
- (wann)
-
2021
- Handle
- Letzte Aktualisierung
-
20.09.2024, 08:21 MESZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Karmeliuk, Maria
- Kocher, Martin
- Ludwig-Maximilians-Universität München und Humboldt-Universität zu Berlin, Collaborative Research Center Transregio 190 - Rationality and Competition
Entstanden
- 2021
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