Quantal Response Equilibrium and Overbidding in Private-Value Auctions

By Jacob K. Goeree, Charles A. Holt, Thomas R. Palfrey. Journal of Economics Theory, 2002

452 citations recorded by the source corpus.

Subfields: Management Science and Operations Research, Marketing, Safety Research

View Paper: https://www.semanticscholar.org/paper/01886ea0c2b20575ed32d00d9e0bd9f383591620

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Citations in the corpus

Experimental comparison of multi-stage and one-stage contests (2009, background): ““joy of winning”) are done by Goeree et al. (2002) , Amaldoss and Rapoport (2005), and”
Estimating risk aversion from ascending and sealed-bid auctions: the case of timber auction data (2008, background): “With the exception of Hansen (1985) and Athey, Levin and Seira (2004), the abundant previous empirical literature on USFS timber auctions has used data from a single auction design exclusively while addressing important economic issues. Adopting a private value framework, Baldwin, Marshall and Richa”
Measuring Individual Risk Attitudes in the Lab: Task or Ask? An Empirical Comparison (2015, unknown): “For example, Goeree, Holt and Palfrey show how the distribution of bids in a private-values auction experiment, including the prevalence of overbidding, can be captured in a quantal response equilibrium model with risk averse bidders (Goeree et al., 2002), and how deviations from Nash-equilibrium in”
The strategy versus the direct-response method: a first survey of experimental comparisons (2011, unknown): “The authors state that the relevant auction outcomes are both qualitatively and quantitatively consistent with those in Goeree et al. (2002).”
Semiparametric Estimation of First-Price Auctions with Risk Averse Bidders* (2011, unknown): “Comparing revenues generated from ascending and sealed-bid auctions, Hansen (1985) tests the revenue equivalence theorem.”
Quantal Response Equilibrium (2018, methodology): “3 For the two-person coordination game experiments reported in Goeree and Holt (2005), a reduction in the effort cost parameter from 0.”
Learning and the Economics of Small Decisions (2013, background): “baseline and I-SAW, the winning model builds on the instance based learning model proposed by Gonzalez et al. (2003) and implies reliance on small samples of experiences.”