{"id":"https://openalex.org/W2621297977","doi":null,"title":"A Na\u00efve Approach to Bidding","display_name":"A Na\u00efve Approach to Bidding","publication_year":2017,"publication_date":"2017-03-01","ids":{"openalex":"https://openalex.org/W2621297977","mag":"2621297977"},"language":"en","primary_location":{"id":"pmh:oai:RePEc:adl:wpaper:2017-03","doi":null,"is_oa":false,"landing_page_url":"https://media.adelaide.edu.au/economics/papers/doc/wp2017-03.pdf","pdf_url":"https://media.adelaide.edu.au/economics/papers/doc/wp2017-03.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},"volume":null,"type":"preprint","is_traditional":true,"indexed_in":[],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5065376153","display_name":"Paul Pezanis\u2010Christou","orcid":"https://orcid.org/0000-0001-6521-4139","observed_orcids":["https://orcid.org/0000-0001-6521-4139"]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Paul Pezanis\u2010Christou","raw_affiliation_strings":[],"raw_orcid":"https://orcid.org/0000-0001-6521-4139","affiliations":[]},{"author_position":"last","author":{"id":"https://openalex.org/A5101645574","display_name":"Hang Wu","orcid":"https://orcid.org/0000-0003-2614-7345","observed_orcids":["https://orcid.org/0000-0003-2614-7345"]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Hang Wu","raw_affiliation_strings":[],"raw_orcid":"https://orcid.org/0000-0003-2614-7345","affiliations":[]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":0,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":false,"cited_by_count":0,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T11182","display_name":"Auction Theory and Applications","score":1.0,"subfield":{"id":"https://openalex.org/subfields/1803","display_name":"Management Science and Operations Research"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T11182","display_name":"Auction Theory and Applications","score":1.0,"subfield":{"id":"https://openalex.org/subfields/1803","display_name":"Management Science and Operations Research"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10315","display_name":"Decision-Making and Behavioral Economics","score":9.999999747378752e-05,"subfield":{"id":"https://openalex.org/subfields/1800","display_name":"General Decision Sciences"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10646","display_name":"Experimental Behavioral Economics Studies","score":0.0,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/bidding-behavior","display_name":"bidding behavior","score":0.9700000286102295},{"id":"https://openalex.org/keywords/first-price-auctions","display_name":"first-price auctions","score":0.7559999823570251},{"id":"https://openalex.org/keywords/all-pay-auctions","display_name":"all-pay auctions","score":0.9959999918937683},{"id":"https://openalex.org/keywords/revenue-equivalence","display_name":"revenue equivalence","score":0.6710000038146973},{"id":"https://openalex.org/keywords/risk-neutrality","display_name":"risk neutrality","score":0.5709999799728394},{"id":"https://openalex.org/keywords/auction-experiments","display_name":"auction experiments","score":0.5509999990463257}],"concepts":[{"id":"https://openalex.org/C163239763","wikidata":"https://www.wikidata.org/wiki/Q5153637","display_name":"Common value auction","level":2,"score":0.7815647125244141},{"id":"https://openalex.org/C9233905","wikidata":"https://www.wikidata.org/wiki/Q3276328","display_name":"Bidding","level":2,"score":0.6341862678527832},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.5863595604896545},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.5621548891067505},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.5548205375671387},{"id":"https://openalex.org/C183115368","wikidata":"https://www.wikidata.org/wiki/Q856577","display_name":"Weighting","level":2,"score":0.5079544186592102},{"id":"https://openalex.org/C195487862","wikidata":"https://www.wikidata.org/wiki/Q850210","display_name":"Revenue","level":2,"score":0.46069973707199097},{"id":"https://openalex.org/C127576917","wikidata":"https://www.wikidata.org/wiki/Q624630","display_name":"Competitor analysis","level":2,"score":0.45561134815216064},{"id":"https://openalex.org/C102366305","wikidata":"https://www.wikidata.org/wiki/Q1097688","display_name":"Nonparametric statistics","level":2,"score":0.45069462060928345},{"id":"https://openalex.org/C187736073","wikidata":"https://www.wikidata.org/wiki/Q2920921","display_name":"Management","level":1,"score":0.0},{"id":"https://openalex.org/C126838900","wikidata":"https://www.wikidata.org/wiki/Q77604","display_name":"Radiology","level":1,"score":0.0},{"id":"https://openalex.org/C121955636","wikidata":"https://www.wikidata.org/wiki/Q4116214","display_name":"Accounting","level":1,"score":0.0},{"id":"https://openalex.org/C71924100","wikidata":"https://www.wikidata.org/wiki/Q11190","display_name":"Medicine","level":0,"score":0.0}],"mesh":[],"locations_count":3,"locations":[{"id":"pmh:oai:RePEc:adl:wpaper:2017-03","doi":null,"is_oa":false,"landing_page_url":"https://media.adelaide.edu.au/economics/papers/doc/wp2017-03.pdf","pdf_url":"https://media.adelaide.edu.au/economics/papers/doc/wp2017-03.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},{"id":"mag:2621297977","doi":null,"is_oa":false,"landing_page_url":"https://econpapers.repec.org/RePEc:adl:wpaper:2017-03","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"RePEc: Research Papers in Economics","raw_type":null},{"id":"mag:2811023343","doi":null,"is_oa":false,"landing_page_url":"https://econpapers.repec.org/RePEc:adl:wpaper:2017-03","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"RePEc: Research Papers in Economics","raw_type":null}],"best_oa_location":null,"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":31,"referenced_works":["https://openalex.org/W1965730783","https://openalex.org/W1970764325","https://openalex.org/W1985034397","https://openalex.org/W1986799195","https://openalex.org/W1986810317","https://openalex.org/W1993989686","https://openalex.org/W2000548174","https://openalex.org/W2009272298","https://openalex.org/W2015007620","https://openalex.org/W2024075356","https://openalex.org/W2033248968","https://openalex.org/W2053860621","https://openalex.org/W2060469632","https://openalex.org/W2066635187","https://openalex.org/W2095934981","https://openalex.org/W2096423350","https://openalex.org/W2101823714","https://openalex.org/W2120586058","https://openalex.org/W2124178171","https://openalex.org/W2140475942","https://openalex.org/W2143546218","https://openalex.org/W2144401500","https://openalex.org/W2155085893","https://openalex.org/W2157823406","https://openalex.org/W2160255283","https://openalex.org/W2162673118","https://openalex.org/W2185384330","https://openalex.org/W2239954174","https://openalex.org/W2339530877","https://openalex.org/W3121650482","https://openalex.org/W3124900338"],"related_works":["https://openalex.org/W2908490806","https://openalex.org/W1578657220","https://openalex.org/W1583742324","https://openalex.org/W4381295567","https://openalex.org/W7097756276","https://openalex.org/W7099391832","https://openalex.org/W1993415685","https://openalex.org/W2076988222","https://openalex.org/W7034335956","https://openalex.org/W2924079632"],"abstract_inverted_index":{"We":[0,73],"propose":[1],"a":[2,131,140],"novel":[3],"approach":[4],"to":[5,31,71,77,114],"the":[6,17,33,64,75,78,136],"modelling":[7],"of":[8,67,80,121,143],"bidding":[9],"behavior":[10,138],"in":[11,54],"pay-your-bid":[12,69],"auctions":[13,58,70],"that":[14,19,86,127],"builds":[15],"on":[16],"presumption":[18],"bidders":[20],"are":[21],"mostly":[22],"concerned":[23],"with":[24],"losing":[25],"an":[26],"auction":[27,82],"if":[28],"they":[29,87],"happen":[30],"have":[32],"highest":[34],"signal.":[35],"Our":[36],"models":[37,76],"assume":[38],"risk":[39,98],"neutrality,":[40],"no":[41,45],"profit":[42],"maximization":[43],"and":[44,56,59,84,112],"belief":[46],"about":[47],"competitors'":[48],"behavior.":[49],"They":[50],"may":[51],"entail":[52],"overbidding":[53],"first-price":[55,81],"all-pay":[57],"we":[60],"discuss":[61],"conditions":[62],"for":[63,97,135],"revenue":[65,117],"equivalence":[66],"standard":[68],"hold.":[72],"fit":[74],"data":[79],"experiments":[83],"find":[85],"do":[88],"at":[89],"least":[90],"as":[91,93],"well":[92],"Vickreys":[94],"benchmark":[95],"model":[96],"neutral":[99],"bidders.":[100],"Assuming":[101],"probability":[102,144],"misperception":[103],"or":[104],"impulse":[105,128],"weighting":[106,129],"(when":[107],"relevant)":[108],"improves":[109],"their":[110],"goodness-of-fit":[111],"leads":[113],"very":[115],"similar":[116],"predictions.":[118],"An":[119],"analysis":[120],"individuals'":[122],"heterogeneous":[123],"behavioral":[124],"traits":[125],"suggests":[126],"is":[130],"more":[132],"consistent":[133],"rationale":[134],"observed":[137],"than":[139],"power":[141],"form":[142],"misperception.":[145]},"counts_by_year":[],"updated_date":"2026-09-29T14:09:16.559479","created_date":"2017-06-09T00:00:00"}
