Behaviorally Optimal Auction Design: Examples and Observations.
This paper begins to explore behavioral mechanism design, replacing equilibrium by a model based on “level-k” thinking, which has strong support in experiments. In representative examples, we consider optimal sealed-bid auctions with two symmetric bidders who have independent private values, assumin...
| Main Authors: | , , , |
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| Format: | Journal article |
| Language: | English |
| Published: |
MIT Press
2009
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