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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 Panthéon-Sorbonne - Paris I, EEP-PSE - Ecole d'Économie de Paris - Paris School of Economics - Ecole d'Économie de Paris)
Robert-Vincent Joule () (Laboratoire de Psychologie Sociale - Université de Provence)
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 - Ecole des Hautes Etudes en Sciences Sociales (EHESS) - CNRS : UMR6579)
Jason Shogren () (Departement Economy and Finance, University of Wyoming - University of Wyoming)

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Abstract

This paper considers whether earned wealth affects 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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Paper provided by HAL in its series Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) with number halshs-00429894_v1.

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Date of creation: Oct 2009
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Publication status: Published, Economics Letters, 2009, 105, 1, 36-38
Handle: RePEc:hal:cesptp:halshs-00429894_v1

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

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  1. Rutstrom, E. Elisabet & Williams, Melonie B., 2000. "Entitlements and fairness:: an experimental study of distributive preferences," Journal of Economic Behavior & Organization, Elsevier, vol. 43(1), pages 75-89, September. [Downloadable!] (restricted)
  2. Glenn Harrison, 2007. "House money effects in public good experiments: Comment," Experimental Economics, Springer, vol. 10(4), pages 429-437, December. [Downloadable!] (restricted)
  3. Cherry, Todd L. & Kroll, Stephan & Shogren, Jason F., 2005. "The impact of endowment heterogeneity and origin on public good contributions: evidence from the lab," Journal of Economic Behavior & Organization, Elsevier, vol. 57(3), pages 357-365, July. [Downloadable!] (restricted)
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  4. Todd L. Cherry & Peter Frykblom & Jason F. Shogren, 2002. "Hardnose the Dictator," American Economic Review, American Economic Association, vol. 92(4), pages 1218-1221, September. [Downloadable!]
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  5. Jeremy Clark, 1998. "Fairness in Public Good Provision: An Investigation of Preferences for Equality and Proportionality," Canadian Journal of Economics, Canadian Economics Association, vol. 31(3), pages 708-729, August. [Downloadable!] (restricted)
  6. Greiner, Ben, 2004. "An Online Recruitment System for Economic Experiments," MPRA Paper 13513, University Library of Munich, Germany. [Downloadable!]
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This page was last updated on 2009-12-12.

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