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Research Article

Rationality, Irrationality and Escalating Behavior in Lowest Unique Bid Auctions

  • Filippo Radicchi,

    Affiliations: Howard Hughes Medical Institute (HHMI), Northwestern University, Evanston, Illinois, United States of America, Department of Chemical and Biological Engineering, Northwestern University, Evanston, Illinois, United States of America, Departament d'Enginyeria Quimica, Universitat Rovira i Virgili, Tarragona, Catalunya, Spain

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  • Andrea Baronchelli,

    Affiliation: Departament de Física i Enginyeria Nuclear, Universitat Politècnica de Catalunya, Campus Nord B4, Barcelona, Spain

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  • Luís A. N. Amaral mail

    amaral@northwestern.edu

    Affiliations: Howard Hughes Medical Institute (HHMI), Northwestern University, Evanston, Illinois, United States of America, Department of Chemical and Biological Engineering, Northwestern University, Evanston, Illinois, United States of America, Northwestern Institute on Complex Systems (NICO), Northwestern University, Evanston, Illinois, United States of America

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  • Published: January 18, 2012
  • DOI: 10.1371/journal.pone.0029910

About the Authors

Filippo Radicchi, Luís A. N. Amaral
Howard Hughes Medical Institute (HHMI), Northwestern University, Evanston, Illinois, United States of America
Filippo Radicchi, Luís A. N. Amaral
Department of Chemical and Biological Engineering, Northwestern University, Evanston, Illinois, United States of America
Filippo Radicchi
Departament d'Enginyeria Quimica, Universitat Rovira i Virgili, Tarragona, Catalunya, Spain
Andrea Baronchelli
Departament de Física i Enginyeria Nuclear, Universitat Politècnica de Catalunya, Campus Nord B4, Barcelona, Spain
Luís A. N. Amaral
Northwestern Institute on Complex Systems (NICO), Northwestern University, Evanston, Illinois, United States of America

Corresponding Author

Email: amaral@northwestern.edu

Competing Interests

The authors have declared that no competing interests exist.

Author Contributions

Conceived and designed the experiments: FR LANA. Performed the experiments: FR. Analyzed the data: FR. Contributed reagents/materials/analysis tools: FR AB. Wrote the paper: FR AB LANA.