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Earned Wealth, Engaged Bidders? Evidence from a second price auction

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Author Info

  • Nicolas Jacquemet

    ()
    (CES - Centre d'économie de la Sorbonne - CNRS : UMR8174 - Université Paris I - Panthéon-Sorbonne, EEP-PSE - Ecole d'Économie de Paris - Paris School of Economics - Ecole d'Économie de Paris)

  • Stephane Luchini

    ()
    (GREQAM - Groupement de Recherche en Économie Quantitative d'Aix-Marseille - Université de la Méditerranée - Aix-Marseille II - Université Paul Cézanne - Aix-Marseille III - École des Hautes Études en Sciences Sociales (EHESS) - CNRS : UMR6579)

  • Robert-Vincent Joule

    ()
    (LPS-AIX - Laboratoire de Psychologie Sociale - Université de Provence - Aix-Marseille I : EA849)

  • Jason Shogren

    ()
    (Departement Economy and Finance, University of Wyoming - University of Wyoming)

Abstract

Recent work in experimental economics has explored whether observed behavior depends on whether wealth was windfall or earned. This paper extends this work by considering whether earned wealth ffects bidding behavior in an induced-value second-price auction. We find people bid more sincerely in the auction with earned wealth given monetary incentives; earned wealth did not induce sincere bidding in hypothetical auctions.

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Bibliographic Info

Paper provided by HAL in its series Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) with number halshs-00277283.

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Date of creation: 06 May 2008
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Handle: RePEc:hal:cesptp:halshs-00277283

Note: View the original document on HAL open archive server: http://halshs.archives-ouvertes.fr/halshs-00277283
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Related research

Keywords: Auctions; Demand revelation; Experimental valuation; Hypothetical bias; Earned Money;

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  1. Jeremy Clark, 2002. "House Money Effects in Public Good Experiments," Experimental Economics, Springer, vol. 5(3), pages 223-231, December.
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