Anchoring and transaction utility: evidence from on-line auctions
This article presents empirical evidence that people use anchoring to form their valuation of an object. Using data from the on-line auction Bidz.com, we found that people bid more for an item with a higher posted 'buy now' price than for an identical item with the lower posted 'buy now' price.
Volume (Year): 11 (2004)
Issue (Month): 5 ()
|Contact details of provider:|| Web page: http://www.tandfonline.com/RAEL20|
|Order Information:||Web: http://www.tandfonline.com/pricing/journal/RAEL20|
- Holst, Gesa Sophie & Hermann, Daniel & Musshoff, Oliver, 2015. "Anchoring effects in an experimental auction – Are farmers anchored?," Journal of Economic Psychology, Elsevier, vol. 48(C), pages 106-117.
- Meub, Lukas & Proeger, Till, 2016. "Are groups 'less behavioral'? The case of anchoring," Center for European, Governance and Economic Development Research Discussion Papers 188 [rev.], University of Goettingen, Department of Economics.
- Shunda, Nicholas, 2009.
"Auctions with a buy price: The case of reference-dependent preferences,"
Games and Economic Behavior,
Elsevier, vol. 67(2), pages 645-664, November.
- Nicholas Shunda, 2007. "Auctions with a Buy Price: The Case of Reference-Dependent Preferences," Working papers 2007-42, University of Connecticut, Department of Economics.
- Justin S. Skillman & Michael J. Vernarelli, 2016. "Framing effects on bidding behavior in experimental first-price sealed-bid money auctions," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 11(4), pages 391-400, July.
- Jong-Rong Chen & Kong-Pin Chen & Chien-Fu Chou & Ching-I Huang, 2013. "A Dynamic Model of Auctions with Buy-It-Now: Theory and Evidence," Journal of Industrial Economics, Wiley Blackwell, vol. 61(2), pages 393-429, 06.
- Chen, Jong-Rong & Chen, Kong-Pin & Chou, Chien-Fu & Huang, Ching-I, 2006. "A dynamic model of auctions with buy-it-now: theory and evidence," MPRA Paper 38371, University Library of Munich, Germany, revised 24 Nov 2011.
- Arbel, Yuval & Ben-Shahar, Danny & Gabriel, Stuart, 2014. "Anchoring and housing choice: Results of a natural policy experiment," Regional Science and Urban Economics, Elsevier, vol. 49(C), pages 68-83.
- Tim Grebe & Radosveta Ivanova-Stenzel & Sabine Kröger, 2009. "Buy-it-Now Prices in eBay Auctions-The Field in the Lab," Cahiers de recherche 0950, CIRPEE.
- Ivanova-Stenzel, Radosveta & Grebe, Tim & Kröger, Sabine, 2014. "Buy-it-Now Prices in eBay Auctions The Field in the Lab," Annual Conference 2014 (Hamburg): Evidence-based Economic Policy 100611, Verein für Socialpolitik / German Economic Association.
- Grebe, Tim & Ivanova-Stenzel, Radosveta & Kröger, Sabine, 2010. "Buy-It-Now prices in eBay Auctions - The Field in the Lab," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 294, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
- Ulrike Malmendier & Young Han Lee, 2011. "The Bidder's Curse," American Economic Review, American Economic Association, vol. 101(2), pages 749-787, April.
- Young Han Lee & Ulrike Malmendier, 2007. "The Bidder's Curse," NBER Working Papers 13699, National Bureau of Economic Research, Inc.
- Meub, Lukas & Proeger, Till E., 2015. "Anchoring in social context," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 55(C), pages 29-39.
- Matzke, Andreas & Volling, Thomas & Spengler, Thomas S., 2016. "Upgrade auctions in build-to-order manufacturing with loss-averse customers," European Journal of Operational Research, Elsevier, vol. 250(2), pages 470-479.
- Meub, Lukas & Proeger, Till, 2014. "An experimental study on social anchoring," Center for European, Governance and Economic Development Research Discussion Papers 196, University of Goettingen, Department of Economics.
- repec:gam:jgames:v:7:y:2016:i:1:p:8:d:64825 is not listed on IDEAS
- Peeters, Ronald & Strobel, Martin & Vermeulen, Dries & Walzl, Markus, 2007. "The impact of the irrelevant : temporary buy-options and bidding behavior in online auctions," Research Memorandum 027, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
- Azar, Ofer H., 2014. "Optimal strategy of multi-product retailers with relative thinking and reference prices," International Journal of Industrial Organization, Elsevier, vol. 37(C), pages 130-140.
- Ofer H. Azar, 2013. "Optimal Strategy Of Multi-Product Retailers With Relative Thinking And Reference Prices," Working Papers 1313, Ben-Gurion University of the Negev, Department of Economics.
- Azar, Ofer H., 2013. "Competitive strategy when consumers are affected by reference prices," Journal of Economic Psychology, Elsevier, vol. 39(C), pages 327-340.
- McAlvanah, Patrick & Moul, Charles C., 2013. "The house doesn’t always win: Evidence of anchoring among Australian bookies," Journal of Economic Behavior & Organization, Elsevier, vol. 90(C), pages 87-99.
- Ronald Peeters & Martin Strobel & Dries Vermeulen & Markus Walzl, 2016. "The Impact of the Irrelevant: Temporary Buy-Options and Bidding Behavior in Auctions," Games, MDPI, Open Access Journal, vol. 7(1), pages 1-19, March.
When requesting a correction, please mention this item's handle: RePEc:taf:apeclt:v:11:y:2004:i:5:p:307-310. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Michael McNulty)
If references are entirely missing, you can add them using this form.
Follow series, journals, authors & more
New papers by email
Subscribe to new additions to RePEc
Public profiles for Economics researchers
Various rankings of research in Economics & related fields
Who was a student of whom, using RePEc
Curated articles & papers on various economics topics
Upload your paper to be listed on RePEc and IDEAS
Blog aggregator for economics research
Cases of plagiarism in Economics
Job Market Papers
RePEc working paper series dedicated to the job market
Pretend you are at the helm of an economics department
Services from the StL Fed
Data, research, apps & more from the St. Louis Fed