The paper presents a complete information model of bidding in second price sealed-bid and ascending-bid (English) auctions, in which potential buyers know the unit valuation of other bidders and may spitefully prefer that their rivals earn a lower surplus. Bidders with spiteful preferences should overbid in equilibrium when they know their rival has a higher value than their own, and bidders wi...

Battigalli and Siniscalchi’s [Journal of Economic Theory 106, 356-391 (2002)] notion of “strong belief”in conditional probability systems and Yang’s [Journal of Economic Theory, forthcoming] notion of “weak assumption”in lexicographic probability systems are unified by the same requirements on preferences. Our analysis, hence, reconciles the tension between Battigalli and Siniscalchi’s characte...

Ambiguity preferences are important to explain human decision-making in many areas in economics and finance. To measure individual ambiguity preferences, the experimental economics literature advocates using incentivized laboratory experiments. Yet, laboratory experiments are costly and require a lot of time and administrative effort. This study develops an ambiguity preference survey module th...

this study investigated language learning styles of iranian efl learners and their class achievement. to this end, sixty female ad- vanced learners of instruction and different ages (15-30), studying at a language institute in shiraz were asked to take part in the study. a 30- item language learning styles questionnaire developed by reid (1987) was employed to elicit information for the study. ...

The need for dynamic operation in the process industry is described by Backx et al. [1]. The economics are increasingly driven by the market and this requires flexible supply chains. In such an environment it is much harder to optimize economic performance while maintaining the required product quality and honoring operational constraints. Therefore it is expected that the current industrial st...

A growing body of evidence shows that human mating preferences, like those of other animal species, can vary geographically. For example, women living in areas with a high cost of living have been shown to seek potential mates that can provide resources (e.g., large salaries). In this study, we present data from a large (N = 2944) nationally representative (United States) sample of Internet dat...

Between December 2007 and February 2009, Venezuelans participated twice in constitutional referenda where the elimination of presidential term limits was one of the most salient proposals. Assuming voter preferences did not change significantly during that period, the ‘repeated’ character of these elections provide us with an excellent opportunity to apply forensic tools designed to detect anom...

We explore the interaction between evolutionary stability and lexicographic preferences. To do so, we define a limit Nash equilibrium for a lexicographic game as the limit of Nash equilibria of nearby games with continuous preferences. Nash equilibria of lexicographic games are limit Nash equilibria, but not conversely. Modified evolutionarily stable strategies (Binmore and Samuelson, 1992. J. ...

This paper studies equilibrium portfolios in the traditional neoclassical growth model under uncertainty with heterogeneous agents and dynamically complete markets. Preferences are restricted to be quasi-homothetic. Heterogeneity across agents is due to two reasons. First, agents may have di¤erent shares of the representative ...rm at date 0. Secondly, agents may also have di¤erent preferences ...

An auction is externality-robust if unilateral deviations from equilibrium leave the other bidders’ payoffs unaffected. The equilibrium and its outcome will then persist if certain types of externalities arise between bidders. One example are externalities due to spiteful preferences, which have been used to explain overbidding in the second-price auction (SPA). Another example are cross-shareh...