Emotions in auctions: When and why bidders overbid

The objective of this thesis is to identify situations in which bidders overbid in auctions and to explain overbidding behavior with emotionally motivated bidding behavior. The specific challenge is to identify the comprehensive range of types of emotions that influence bidding behavior based on approaches in emotional psychology. A standard procedure is developed to discuss emotions in auctions and to identify emotional pattern. A special focus is on the design of experiments with real goods.