Penny auction game : sunk cost fallacy, loss aversion and bounded rationality.

• Main Authors: Chan, Pheng., Ng, Wei Liang., Wong, Heng Liang.
• 其他作者: School of Humanities and Social Sciences
• 格式: Final Year Project
• 語言: English
• 出版: 2011
• 主題: DRNTU::Social sciences::Economic theory
• 在線閱讀: http://hdl.handle.net/10356/44476
• 機構: Nanyang Technological University

We have analyzed a new auction format where bid fees are incurred whenever bidders want to participate in auctions. We have collected a total of 464 auctions and captured 8431 bidders throughout a period of three months. Our research has adopted various techniques including regression and graphical...