Payoff equivalence in sealed bid auctions and the dual theory of choice under risk: A correction

Oscar Volij

doi:https://doi.org/10.1016/j.econlet.2024.112139

Payoff equivalence in sealed bid auctions and the dual theory of choice under risk: A correction

Oscar Volij

Department of Economics

Ben-Gurion University of the Negev

Research output: Contribution to journal › Article › peer-review

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	American English
Article number	112139
Journal	Economics Letters
Volume	247
DOIs	https://doi.org/10.1016/j.econlet.2024.112139
State	Published - 1 Feb 2025

Keywords

Auctions
Non-expected utility
Risk aversion

All Science Journal Classification (ASJC) codes

Finance
Economics and Econometrics

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https://doi.org/10.1016/j.econlet.2024.112139

Cite this

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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.",

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AB - 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.

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KW - Risk aversion

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Payoff equivalence in sealed bid auctions and the dual theory of choice under risk: A correction

Abstract

Keywords

All Science Journal Classification (ASJC) codes

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