Econometrica: Jan 2015, Volume 83, Issue 1

A Comment on "Can Relaxation of Beliefs Rationalize the Winner's Curse?: An Experimental Study"

https://doi.org/10.3982/ECTA11000
p. 375-383

Miguel A. Costa-Gomes and Makoto Shimoji



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Supplement to "A Comment on 'Can Relaxation of Beliefs Rationalize the Winner's Curse?: An Experimental Study'"

This zip file contains the replication files for the manuscript.

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Supplement to "A Comment on 'Can Relaxation of Beliefs Rationalize the Winner's Curse?: An Experimental Study'"

In this note, we provide (i) the derivation of the cursed equilibrium and analogy-based expectation equilibrium (which are the same under our specification) and (ii) the derivation of L1's bids with a discrete bid space (which is analogous to ILN's Proposition 3).

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