How Do People Make Timing Decisions in Situations Where They Have Little Experience and Insufficient Data?

Sarah Auster
Profile Picture of - Sarah Auster

Sarah Auster

Abstract information

Individuals and governments often do not have as much time or experience as they would like when they need to make a decision. In this video, SARAH AUSTER explores the mechanism by which such decisions are made. Building a game theoretical model that draws on auction theory and decision theory, Auster’s work shows that certain forms of auction design favor the seller and that supplementary information provided to bidders can help to level the playing field. Auster’s continuing research on timing decisions will examine the role played by degrees of certainty around the “stopping payoff”.

DOI:

https://doi.org/10.21036/LTPUB10915

Researcher

Sarah Auster is an Assistant Professor in the Institute for Microeconomics at the University of Bonn. Having completed her PhD at the European University Institute, Auster previously worked at Bocconi University and the University of Mannheim. Her main research interests include contract theory, decision theory and mechanism design and search. Winner of the 2015 Vilfredo Pareto prize, Auster’s work has been published in journals including Theoretical Economics and the Journal of Economic Theory.

Institution information

University of Bonn (Rheinische Friedrich-Wilhelms-Universität Bonn)

The University of Bonn is one of Germany’s most prestigious and research-intensive institutions, consistently ranked among the top universities worldwide. Founded in 1818, it is celebrated for its academic excellence, particularly in mathematics and economics, and boasts a record of producing several Nobel Laureates and Fields Medalists. Located in the former German capital, the university is integrated into the city’s historic fabric, offering a vibrant international environment and a diverse range of programs across seven faculties. As a member of the elite U15 group, it remains a global leader in innovation and higher education.
University of Bonn (Rheinische Friedrich-Wilhelms-Universität Bonn)
Cover Photo of - University of Bonn (Rheinische Friedrich-Wilhelms-Universität Bonn)

Original Publication

Robust Bidding and Revenue in Descending Price Auctions

Sarah Auster,

Christian Kellner

Published in

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Citation

Sarah Auster, 

Latest Thinking, 

How Do People Make Timing Decisions in Situations Where They Have Little Experience and Insufficient Data?, 

https://doi.org/10.21036/LTPUB10915, 

Credits:

© Sarah Auster 

and Latest Thinking

This work is licensed under CC-BY 4.0