Disappointment Aversion in internet Bidding-Decisions
نویسندگان
چکیده
منابع مشابه
Social disappointment explains chimpanzees' behaviour in the inequity aversion task.
Chimpanzees' refusal of less-preferred food when an experimenter has previously provided preferred food to a conspecific has been taken as evidence for a sense of fairness. Here, we present a novel hypothesis-the social disappointment hypothesis-according to which food refusals express chimpanzees' disappointment in the human experimenter for not rewarding them as well as they could have. We te...
متن کاملEliciting Gul’s theory of disappointment aversion by the tradeoff method
Gul’s theory of disappointment aversion (DA) has several attractive features, being intuitive, analytically tractable, and parsimonious. In spite of this, the DA model has received little attention in practical applications, which may be partly due to the absence of a procedure to elicit the model. We show how the tradeoff method, developed by Wakker and Deneffe can be used to elicit DA. Our el...
متن کاملGrowth Uncertainty, Generalized Disappointment Aversion and Production-based Asset Pricing
We study a production economy with regime switching in the conditional mean and volatility of productivity growth. The representative agent has generalized disappointment aversion (GDA) preferences. We show that volatility risk in productivity growth carries a positive and sizable risk premium in levered equity. Our model can endogenously generate long-run risks in the volatility of consumption...
متن کاملJump Bidding Strategies in Internet Auctions
A strategy commonly observed in Internet auctions is that of “jump bidding,” or entering a bid larger than what is necessary to be a currently winning bidder. In this paper, we argue that the cost associated with entering online bids and the uncertainty about future entry—both of which distinguish Internet from live auctions—can explain this behavior. We present a simple theoretical model that ...
متن کامل1 Bidding Strategies in Internet Yankee Auctions
A bidding strategy commonly observed in Internet auctions, though not frequently in live auctions, is that of “jump-bidding,” or entering a bid larger than necessary to be a current high bidder. In this paper, we argue that the cost associated with entering on-line bids and the uncertainty concerning bidding competition -both of which distinguish Internet from live auctions -can explain this ph...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Theory and Decision
سال: 2007
ISSN: 0040-5833,1573-7187
DOI: 10.1007/s11238-007-9055-1