Browsing by Author "Kantur, Zeynep"
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On (mis-)perception of probabilities in first-price sealed-bid auctions
Kantur, Zeynep; Keskin, Kerim (Economics Bulletin, 2019)We study a two-stage probability weighting model [see Tversky and Fox 1995] in a first-price sealed-bid auction. We present the unique symmetric equilibrium and provide some experimental support for our model.