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A robust algorithm for parameter estimation in smooth transition autoregressive models |
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| Authors: | Nicolas Jacquemet Robert-Vincent Joule Stphane Luchini Jason F Shogren |
| Institution: | Nicolas Jacquemet, Robert-Vincent Joule, Stéphane Luchini,Jason F. Shogren, |
| Abstract: | This paper considers whether earned wealth affects bidding behavior in an induced-value second-price auction. We find people bid more sincerely in the auction with earned wealth given monetary incentives; earned wealth did not induce sincere bidding in hypothetical auctions. |
| Keywords: | Auctions Demand revelation Experimental valuation Hypothetical bias Earned money |
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