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Menstrual cycle and competitive bidding

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  • Pearson, Matthew
  • Schipper, Burkhard C.

Abstract

In an experiment using two-bidder first-price sealed-bid auctions with symmetric independent private values and 400 participants, we collected information on the female participantsʼ menstrual cycles and the use of hormonal contraceptives. We find that naturally cycling women bid significantly higher than men and earn significantly lower profits than men except during the midcycle when fecundity is highest. We suggest an evolutionary hypothesis according to which women are predisposed by hormones to generally behave more riskily during their fecund phase of their menstrual cycle in order to increase the probability of conception, quality of offspring, and genetic variety. We also find that women on hormonal contraceptives bid significantly higher and earn substantially lower profits than men. This may be due to progestins contained in hormonal contraceptives or a selection effect. We discuss how our study differs from Chen et al. (2013).

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Bibliographic Info

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

Volume (Year): 78 (2013)
Issue (Month): C ()
Pages: 1-20

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Handle: RePEc:eee:gamebe:v:78:y:2013:i:c:p:1-20

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

Related research

Keywords: Hormones; Menstrual cycle; Gender; Fecundity; Contraceptives; Pill; First-price auction; Risk behavior; Competition; Bidding; Endocrinological economics;

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References

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  1. Anne Case & Christina Paxson, 2006. "Stature and status: Height, ability, and labor market outcomes," Working Papers 232, Princeton University, Department of Economics, Industrial Relations Section..
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  8. Burkhard Schipper, 2014. "Sex hormones and competitive bidding," Working Papers 144, University of California, Davis, Department of Economics.
  9. 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.
  10. Muriel Niederle & Lise Vesterlund, 2007. "Do Women Shy Away from Competition? Do Men Compete Too Much?," The Quarterly Journal of Economics, MIT Press, vol. 122(3), pages 1067-1101, 08.
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  12. Matthew Pearson & Burkhard C. Schipper, 2009. "The Visible Hand: Finger Ratio (2D:4D) and Competitive Behavior," Working Papers 912, University of California, Davis, Department of Economics.
  13. Burkhard Schipper, 2014. "Sex hormones and choice under risk," Working Papers 147, University of California, Davis, Department of Economics.
  14. Yan Chen & Peter Katuscak & Emre Ozdenoren, 2005. "Why Can’t a Woman Bid More Like a Man?," CERGE-EI Working Papers wp275, The Center for Economic Research and Graduate Education - Economic Institute, Prague.
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  18. 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.
  19. Thomas Buser, 2011. "Hormones and Social Preferences," Tinbergen Institute Discussion Papers 11-046/3, Tinbergen Institute.
  20. 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.
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  23. Emel Filiz-Ozbay & Erkut Y. Ozbay, 2007. "Auctions with Anticipated Regret: Theory and Experiment," American Economic Review, American Economic Association, vol. 97(4), pages 1407-1418, September.
  24. Ham, John C. & Kagel, John H., 2006. "Gender effects in private value auctions," Economics Letters, Elsevier, vol. 92(3), pages 375-382, September.
  25. Morgan John & Steiglitz Ken & Reis George, 2003. "The Spite Motive and Equilibrium Behavior in Auctions," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 2(1), pages 1-27, April.
  26. 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.
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  1. Risk taking and the menstrual cycle
    by Economic Logician in Economic Logic on 2009-08-24 14:01:00
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