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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. Burkhard Schipper, 2014. "Sex hormones and competitive bidding," Working Papers 144, University of California, Davis, Department of Economics.
  2. 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.
  3. 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.
  4. 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.
  5. Francine D. Blau & Lawrence M. Kahn, 2000. "Gender Differences in Pay," NBER Working Papers 7732, National Bureau of Economic Research, Inc.
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  7. Burkhard Schipper, 2014. "Sex hormones and choice under risk," Working Papers 147, University of California, Davis, Department of Economics.
  8. Ham, John C. & Kagel, John H., 2006. "Gender effects in private value auctions," Economics Letters, Elsevier, vol. 92(3), pages 375-382, September.
  9. Catherine C. Eckel & Philip J. Grossman, 2008. "Sex and Risk: Experimental Evidence," Development Research Unit Working Paper Series archive-09, Monash University, Department of Economics.
  10. Chen, Yan & Katuščák, Peter & Ozdenoren, Emre, 2013. "Why canʼt a woman bid more like a man?," Games and Economic Behavior, Elsevier, vol. 77(1), pages 181-213.
  11. Robson, Arthur J., 1996. "The Evolution of Attitudes to Risk: Lottery Tickets and Relative Wealth," Games and Economic Behavior, Elsevier, vol. 14(2), pages 190-207, June.
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  23. Dekel, Eddie & Scotchmer, Suzanne, 1999. "On the Evolution of Attitudes towards Risk in Winner-Take-All Games," Journal of Economic Theory, Elsevier, vol. 87(1), pages 125-143, July.
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  25. Zak, Paul J. & Stanton, Angela A. & Ahmadi, Sheila, 2007. "Oxytocin Increases Generosity in Humans," MPRA Paper 5650, University Library of Munich, Germany.
  26. 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.
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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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