Abstract
This note corrects a mistake in Volij (2002) “Payoff equivalence in sealed bid auctions and the dual theory of choice under risk,” Economics Letters, 76(2), 231–237. It shows the payoff equivalence of a family of auctions when risk-averse bidders behave according to Yaari's dual theory of choice under risk.
Original language | English |
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Article number | 112139 |
Journal | Economics Letters |
Volume | 247 |
DOIs | |
State | Published - 1 Feb 2025 |
Keywords
- Auctions
- Non-expected utility
- Risk aversion
ASJC Scopus subject areas
- Finance
- Economics and Econometrics