Rationality versus Irrationality of Auction Bidders – Interdisciplinary Perspective

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dc.contributor.authorBialynicka-Birula, Joanna
dc.contributor.organizationUniwersytet Ekonomiczny w Krakowieen
dc.date.accessioned2014-04-11T07:11:06Z
dc.date.available2014-04-11T07:11:06Z
dc.date.issued2008
dc.description.abstractThe paper discusses the factors determining the decisions made by auction bidders. Special attention is given to auction circumstances creating a specific character of the auction market (auction techniques, access to new information, the influence of the auctioneer on participants’ decision making process, the number of auction participants, the techniques of manipulation, buyers’ valuation of auctioned items). The paper also presents the strategies of auction participants with respect to auction techniques. The author proposes an interdisciplinary approach to the matter in question. From the economic point of view (in a traditional sense) the buyer is treated as homo economicus intending to buy an item at the lowest price. In this sense it is posssible to present an optimal strategy for bidders. Taking into consideration the psychological and sociological concepts, the author discusses other aspects of the auction situation: the personality of bidders, risk aversion, the suffering of defeat in the past, the level of emotional control, selective attention, motivation, etc. Moreover, the paper discusses the rationality and irrationality in the auction decision making process.en
dc.description.epersonJoanna Bialynicka-Birula
dc.identifier.citationBialynicka-Birula J., Rationality versus Irrationality of Auction Bidders – Interdisciplinary Perspective, International Conference IAREP/SABE 2008, The Interntional Association for Research in Economic Psychology/The Society for the Advancement of Behavioral Economics), LUISS (Libera Università Internazionale degli Studi Sociali Guido Carli), Rome 2008en
dc.identifier.isbn978-88-6105-027-3
dc.identifier.urihttps://open.icm.edu.pl/handle/123456789/3930
dc.language.isoenen
dc.publisherThe Interntional Association for Research in Economic Psychology/The Society for the Advancement of Behavioral Economicsen
dc.rightsUznanie autorstwa 3.0 Polskapl_PL
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/pl/
dc.subjectzachowania konsumentówen
dc.subjectzachowania aukcyjneen
dc.subjectirracjonalnośćen
dc.subjectracjonalnośćen
dc.subjectaukcjaen
dc.subjectconsumer’s behavioren
dc.subjectbidders’ behavioren
dc.subjectauction marketen
dc.subjectirrationalityen
dc.subjectrationalityen
dc.subjectbiddersen
dc.subjectauctionen
dc.titleRationality versus Irrationality of Auction Bidders – Interdisciplinary Perspectiveen
dc.typeconferencePaperen
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