The Econometric SocietyEconometrica: 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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Supplemental Material
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.
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).