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| Author: | Sutter, M. Kocher, M.G. Strauss, S. |
| Title: | Individuals and teams in auctions |
| Journal: | Oxford Economic Papers
2009 : APR, VOL. 61:2, p. 380-394 |
| Index terms: | auctions bidding |
| Language: | eng |
| Abstract: | This paper examines the bidding behaviour of individuals and teams. The experimental results show that teams stay longer in an auction, paying significantly higher prices than individuals. Hence, teams make smaller profits, suffering more often from the winner's curse. However, the auction's efficiency is higher with teams, bidders with the highest valuation being more likely to win the auction when teams bid. |
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