Loss aversion and learning to bid:
Gespeichert in:
| Format: | Buch |
|---|---|
| Sprache: | English |
| Veröffentlicht: |
Jena
Max-Planck-Inst. for Research into Economic Systems, Strategic Interaction Group
2005
|
| Schriftenreihe: | Papers on strategic interaction
2005,03 |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | Literaturverz. S. 27 - 29 |
| Beschreibung: | 52 S. graph. Darst. |
Internformat
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Datensatz im Suchindex
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|---|---|
| adam_text | Loss aversion and learning to bid*
Dennis A. V. Dittrichf Werner Guth?
Martin G. Kocher^ Paul Pezanis-Christoud
February, 2005
Abstract
Bidding challenges learning theories since experiences with the same bid vary stochasti¬
cally: the same choice can result in either a gain or a loss. In such an environment the
question arises how the nearly universally documented phenomenon of loss aversion af¬
fects the adaptive dynamics. We analyze the impact of loss aversion in a simple auction
for different learning theories. Our experimental results suggest that a version of rein¬
forcement learning which accounts for loss aversion fares as well as more sophisticated
alternatives.
Keywords: loss aversion, bidding, auction, experiment, learning
JEL-Classification: C91, D44, D83
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| indexdate | 2024-07-09T22:31:38Z |
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| publishDate | 2005 |
| publishDateSearch | 2005 |
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| publisher | Max-Planck-Inst. for Research into Economic Systems, Strategic Interaction Group |
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| series | Papers on strategic interaction |
| series2 | Papers on strategic interaction |
| spelling | Loss aversion and learning to bid by Dennis A.V. Dittrich Jena Max-Planck-Inst. for Research into Economic Systems, Strategic Interaction Group 2005 52 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Papers on strategic interaction 2005,03 Literaturverz. S. 27 - 29 Dittrich, Dennis A. V. Sonstige oth Papers on strategic interaction 2005,03 (DE-604)BV025324214 2005,03 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=019977649&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Loss aversion and learning to bid Papers on strategic interaction |
| title | Loss aversion and learning to bid |
| title_auth | Loss aversion and learning to bid |
| title_exact_search | Loss aversion and learning to bid |
| title_full | Loss aversion and learning to bid by Dennis A.V. Dittrich |
| title_fullStr | Loss aversion and learning to bid by Dennis A.V. Dittrich |
| title_full_unstemmed | Loss aversion and learning to bid by Dennis A.V. Dittrich |
| title_short | Loss aversion and learning to bid |
| title_sort | loss aversion and learning to bid |
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