A non-expected utility model and its application in practical auctions
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DOI: 10.1080/00036846.2019.1696942
Abstract: ABSTRACT This article presents a non-expected utility decision model which is nonlinear in the winning probabilities. The model not only explicitly expresses bidders’ attitudes to risk, but also addresses their preference over the bidding criteria.… read more here.
Keywords: expected utility; non expected; rate; practical auctions ... See more keywords