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Why canʼt a woman bid more like a man?

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  • Chen, Yan
  • Katuščák, Peter
  • Ozdenoren, Emre

Abstract

We investigate gender differences and menstrual cycle effects in first-price and second-price sealed-bid auctions with independent private values in a laboratory setting. We find that women bid significantly higher and earn significantly less than men do in the first-price auction, while we find no evidence of a gender difference in bidding or earnings in the second-price auction. Focusing on the first-price auction, we find that, while the gender gap in bidding and earnings persists over the entire course of the menstrual cycle, bidding of contraceptive pill users follows a sine-like pattern throughout the menstrual cycle, with higher than average bidding in the follicular phase and lower than average bidding in the luteal phase. In comparison, pill non-users have a flat bidding profile throughout the cycle.

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Bibliographic Info

Article provided by Elsevier in its journal Games and Economic Behavior.

Volume (Year): 77 (2013)
Issue (Month): 1 ()
Pages: 181-213

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Handle: RePEc:eee:gamebe:v:77:y:2013:i:1:p:181-213

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Web page: http://www.elsevier.com/locate/inca/622836

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Keywords: Gender; Menstrual cycle; Contraceptive pills; Auction; Experiment;

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References

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  1. Buser, Thomas, 2012. "The impact of the menstrual cycle and hormonal contraceptives on competitiveness," Journal of Economic Behavior & Organization, Elsevier, vol. 83(1), pages 1-10.
  2. E. Elisabet RutstrÃm, 1998. "Home-grown values and incentive compatible auction design," International Journal of Game Theory, Springer, vol. 27(3), pages 427-441.
  3. Maskin, Eric S & Riley, John G, 1984. "Optimal Auctions with Risk Averse Buyers," Econometrica, Econometric Society, vol. 52(6), pages 1473-1518, November.
  4. Chen, Yan & Katuscak, Peter & Ozdenoren, Emre, 2007. "Sealed bid auctions with ambiguity: Theory and experiments," Journal of Economic Theory, Elsevier, vol. 136(1), pages 513-535, September.
  5. Riley, John G & Samuelson, William F, 1981. "Optimal Auctions," American Economic Review, American Economic Association, vol. 71(3), pages 381-92, June.
  6. Charles A. Holt & Susan K. Laury, 2002. "Risk Aversion and Incentive Effects," American Economic Review, American Economic Association, vol. 92(5), pages 1644-1655, December.
  7. Uri Gneezy & Aldo Rustichini, 2004. "Gender and competition at a young age," Framed Field Experiments 00151, The Field Experiments Website.
  8. Ichino, Andrea & Moretti, Enrico, 2006. "Biological Gender Differences, Absenteeism and the Earning Gap," IZA Discussion Papers 2207, Institute for the Study of Labor (IZA).
  9. Marco Casari & John C. Ham & John H. Kagel, 2005. "Selection bias, demographic effects, and ability effects in common value auction experiments," Staff Reports 213, Federal Reserve Bank of New York.
  10. Buser, Thomas, 2012. "Digit ratios, the menstrual cycle and social preferences," Games and Economic Behavior, Elsevier, vol. 76(2), pages 457-470.
  11. Goldin, Claudia, 1992. "Understanding the Gender Gap: An Economic History of American Women," OUP Catalogue, Oxford University Press, number 9780195072709, September.
  12. Mariesa A. Herrmann & Jonah E. Rockoff, 2012. "Does Menstruation Explain Gender Gaps in Work Absenteeism?," Journal of Human Resources, University of Wisconsin Press, vol. 47(2), pages 493-508.
  13. Muriel Niederle & Lise Vesterlund, 2005. "Do Women Shy Away From Competition? Do Men Compete Too Much?," NBER Working Papers 11474, National Bureau of Economic Research, Inc.
  14. Burkhard Schipper, 2012. "Sex Hormones and Competitive Bidding," Working Papers 128, University of California, Davis, Department of Economics.
  15. Jianakoplos, Nancy Ammon & Bernasek, Alexandra, 1998. "Are Women More Risk Averse?," Economic Inquiry, Western Economic Association International, vol. 36(4), pages 620-30, October.
  16. Uri Gneezy & Muriel Niederle & Aldo Rustichini, 2003. "Performance In Competitive Environments: Gender Differences," The Quarterly Journal of Economics, MIT Press, vol. 118(3), pages 1049-1074, August.
  17. Rachel Croson & Uri Gneezy, 2009. "Gender Differences in Preferences," Journal of Economic Literature, American Economic Association, vol. 47(2), pages 448-74, June.
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