Going, going, gone: competitive decision-making in Dutch auctions
In a Dutch auction, an item is offered for sale at a set maximum price. The price is then gradually lowered over a fixed interval of time until a bid is made, securing the item for the bidder at the current price. Bidders must trade-off between certainty and price: bid early to secure the item and you pay a premium; bid later at a lower price but risk losing to another bidder. These properties of Dutch auctions provide new opportunities to study competitive decision-making in a group setting. We developed a novel computerised Dutch auction platform and conducted a set of experiments manipulati... Mehr ...
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Dokumenttyp: | Artikel |
Erscheinungsdatum: | 2020 |
Reihe/Periodikum: | Cognitive Research: Principles and Implications, vol 5, iss 1 |
Verlag/Hrsg.: |
eScholarship
University of California |
Schlagwörter: | Cognitive and Computational Psychology / Psychology / Adolescent / Adult / Commerce / Competitive Behavior / Consumer Behavior / Decision Making / Female / Group Processes / Humans / Male / Models / Psychological / Young Adult / Dutch auction / Group decision making / Competitive / Prospect theory / Cognitive Sciences |
Sprache: | unknown |
Permalink: | https://search.fid-benelux.de/Record/base-26619494 |
Datenquelle: | BASE; Originalkatalog |
Powered By: | BASE |
Link(s) : | https://escholarship.org/uc/item/1xc463wk |