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Under second-price sealed bid auctions, when bidders have independent private valuations of a risky object, submitting one's valuation is no longer dominant for non-expected utility bidders. This yields a breakdown in revenue equivalence between English auctions and second-price auctions for non-expected utility bidders.In an experimental auction market selling a single risky object, we find that...
Set the date range to filter the displayed results. You can set a starting date, ending date or both. You can enter the dates manually or choose them from the calendar.