The benchmark risk-averse equilibrium model does not explain some of the outcomes obtained in experiments with first-price auctions. Nonetheless. the presence of non-linear bidding and the wide dispersion of bids have received little attention in the literature. I focus on these issues and revisit previous laboratory evidence with the help of model-based clustering techniques. https://www.roneverhart.com/Ludwig-P2230B-Imperial-Tension-Lug-for-Snare-Drums-p9792/