{"id":24160,"date":"2026-03-23T17:08:56","date_gmt":"2026-03-23T16:08:56","guid":{"rendered":"https:\/\/www.uni.lu\/fdef-en\/?post_type=events&#038;p=24160"},"modified":"2026-03-23T17:08:57","modified_gmt":"2026-03-23T16:08:57","slug":"dem-lunch-seminar-with-antonio-rosato-deakin-university-au","status":"publish","type":"events","link":"https:\/\/www.uni.lu\/fdef-en\/events\/dem-lunch-seminar-with-antonio-rosato-deakin-university-au\/","title":{"rendered":"DEM Lunch Seminar with Antonio Rosato, Deakin University, AU"},"content":{"rendered":"\n<section class=\"wp-block-unilux-blocks-free-section section\"><div class=\"container xl:max-w-screen-xl\">\n<p><\/p>\n\n\n\n<ul class=\"wp-block-unilux-blocks-custom-buttons btn-list\"><li class=\"wp-block-unilux-blocks-custom-button\"    aria-disabled=\"false\"\n    >\n    <a\n        role=\"link\"\n        aria-disabled=\"false\"\n                    href=\"https:\/\/www.eventbrite.co.uk\/e\/dem-lunch-seminar-antonio-rosato-deakin-university-au-registration-1985716529594?aff=oddtdtcreator\"\n                target=\"_self\"\n        class=\"btn btn--primary\"\n            >Register<\/a>\n<\/li>\n\n\n<li class=\"wp-block-unilux-blocks-custom-button\"    aria-disabled=\"false\"\n    >\n    <a\n        role=\"link\"\n        aria-disabled=\"false\"\n                    href=\"https:\/\/www.uni.lu\/fdef-en\/calendar?post_type=events&#038;p=24160&#038;calendar\"\n                target=\"_self\"\n        class=\"btn btn--secondary\"\n            >Add to calendar<\/a>\n<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>The Missing \u201cLoser\u2019s Curse\u201d: Experimental Evidence on Belief-Based  Models in Common-Value Auctions<\/strong><\/p>\n\n\n\n<p>Joint work with Zachary Breig<\/p>\n\n\n\n<p><strong>Abstract<\/strong><\/p>\n\n\n\n<p>Models based on mistaken beliefs, such as Cursed Equilibrium and Level-k Thinking, are among the leading explanations for the Winner\u2019s Curse observed in common-value auctions. We argue that these models predict a Loser\u2019s Curse in other auctions formats. Using an experiment with a within-subject design, we test for the presence of both curses in common-value uniform-price auctions. At the aggregate level, we find evidence of a strong Winner\u2019s Curse, but no evidence of a Loser\u2019s Curse.<\/p>\n\n\n\n<p>These aggregate&nbsp;findings cast some doubts on the ability of belief-based models to fully explain the<\/p>\n\n\n\n<p>Winner\u2019s Curse by themselves. Indeed, at the individual level, the behavior of most subjects is better described by Joy of Winning and Quantal Response Equilibrium. We also find suggestive evidence of failures of contingent thinking: subjects behave closer to the rational benchmark in a non-strategic task when the relevant contingency is made more salient.<\/p>\n\n\n\n<p><strong>About the speaker<\/strong><\/p>\n\n\n\n<p>Antonio Rosato is an economist whose research lies at the intersection of microeconomic theory, behavioural economics, and industrial organization. His work studies how psychologically grounded preferences and beliefs\u2014especially reference dependence and loss aversion\u2014shape strategic behaviour in markets. A particular focus is auction theory and market design with non-standard bidders and buyers. He combines theoretical modelling with experimental evidence on bidding behaviour and consumer decision-making. His research has been published in leading journals including the American Economic Review, Management Science, and Theoretical Economics, as well as the Journal of Economic Theory and the RAND Journal of Economics. Recent contributions examine projection and observational learning in markets and auctions, and optimal auction design with expectations-based loss-averse buyers.<\/p>\n\n\n\n<p><strong>Language<\/strong><\/p>\n\n\n\n<p>English<\/p>\n\n\n\n<p>This is a free seminar. Registration is mandatory<\/p>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\"><figure class=\"wp-block-dev4-reusable-blocks-image  object-fit--scale-down\">\n    \n<img decoding=\"async\" class=\"wp-block-image unilux-custom-image-block\"\n                alt=\"FNR_LOGO\"\n            src=\"https:\/\/www.uni.lu\/wp-content\/uploads\/sites\/3\/2025\/06\/18105657\/FNR_LOGO.png\"\n                srcset=\"https:\/\/www.uni.lu\/wp-content\/uploads\/sites\/3\/2025\/06\/18105657\/FNR_LOGO-300x50.png 300w, https:\/\/www.uni.lu\/wp-content\/uploads\/sites\/3\/2025\/06\/18105657\/FNR_LOGO-1024x172.png 1024w, https:\/\/www.uni.lu\/wp-content\/uploads\/sites\/3\/2025\/06\/18105657\/FNR_LOGO-768x129.png 768w, https:\/\/www.uni.lu\/wp-content\/uploads\/sites\/3\/2025\/06\/18105657\/FNR_LOGO-1536x258.png 1536w, https:\/\/www.uni.lu\/wp-content\/uploads\/sites\/3\/2025\/06\/18105657\/FNR_LOGO-2048x344.png 2048w\"\n                style=\"object-position: 50.00% 50.00%; font-family: &quot;object-fit: scale-down; object-position: 50.00% 50.00%;&quot;; aspect-ratio: 16\/9; object-fit: scale-down; width: 75%;\"\n        loading=\"lazy\"\n\/>    <\/figure><\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<p><br><br><br>Supported by the Fond National de la Recherche,<br>Luxembourg (19441346)<\/p>\n<\/div>\n<\/div>\n<\/div><\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":413,"featured_media":10247,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","format":"standard","meta":{"featured_image_focal_point":[],"show_featured_caption":false,"ulux_newsletter_groups":"","uluxPostTitle":"","uluxPrePostTitle":"","_trash_the_other_posts":false,"_price":"","_stock":"","_tribe_ticket_header":"","_tribe_default_ticket_provider":"","_tribe_ticket_capacity":"0","_ticket_start_date":"","_ticket_end_date":"","_tribe_ticket_show_description":"","_tribe_ticket_show_not_going":false,"_tribe_ticket_use_global_stock":"","_tribe_ticket_global_stock_level":"","_global_stock_mode":"","_global_stock_cap":"","_tribe_rsvp_for_event":"","_tribe_ticket_going_count":"","_tribe_ticket_not_going_count":"","_tribe_tickets_list":"[]","_tribe_ticket_has_attendee_info_fields":false,"event_start_date":"2026-06-10 13:00:00","event_end_date":"2026-06-10 14:00:00","event_speaker_name":"Antonio Rosato","event_speaker_link":"https:\/\/sites.google.com\/site\/rosatoeconomics\/home","event_is_online":false,"event_location":"Universit\u00e9 du Luxembourg \u2013 Campus Weicker  - Room A401","event_street":"4, rue Alphonse Weicker ","event_location_link":"https:\/\/www.uni.lu\/en\/about\/campuses\/weicker-building\/","event_zip_code":"L-2721","event_city":"Luxembourg","event_country":"Luxembourg"},"events-topic":[298],"events-type":[323,322,315],"organisation":[138,101],"authorship":[413],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.3 (Yoast SEO v22.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>DEM Lunch Seminar with Antonio Rosato, Deakin University, AU - FDEF events I Uni.lu<\/title>\n<meta name=\"description\" content=\"The Missing \u201cLoser\u2019s Curse\u201d: Experimental Evidence on Belief-Based Models in Common-Value Auctions Joint work with Zachary Breig Abstract Models based on\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.uni.lu\/fdef-en\/events\/dem-lunch-seminar-with-antonio-rosato-deakin-university-au\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DEM Lunch Seminar with Antonio Rosato, Deakin University, AU\" \/>\n<meta property=\"og:description\" content=\"The Missing \u201cLoser\u2019s Curse\u201d: Experimental Evidence on Belief-Based Models in Common-Value Auctions Joint work with Zachary Breig Abstract Models based on\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.uni.lu\/fdef-en\/events\/dem-lunch-seminar-with-antonio-rosato-deakin-university-au\/\" \/>\n<meta property=\"og:site_name\" content=\"FDEF EN\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/uni.FDEF.lu\" \/>\n<meta property=\"article:modified_time\" content=\"2026-03-23T16:08:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.uni.lu\/wp-content\/uploads\/sites\/3\/2024\/05\/Lunch-Seminar-DEM.png\" \/>\n\t<meta property=\"og:image:width\" content=\"650\" \/>\n\t<meta property=\"og:image:height\" content=\"665\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.uni.lu\/fdef-en\/events\/dem-lunch-seminar-with-antonio-rosato-deakin-university-au\/\",\"url\":\"https:\/\/www.uni.lu\/fdef-en\/events\/dem-lunch-seminar-with-antonio-rosato-deakin-university-au\/\",\"name\":\"DEM Lunch Seminar with Antonio Rosato, Deakin University, AU - 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