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Why Can’t a Woman Bid More Like a Man?

  • Yan Chen
  • Peter Katuscak
  • Emre Ozdenoren

We find robust gender differences in bidding behavior in sealed bid auctions with independent and private valuations in a laboratory setting. In particular, we find that women bid significantly higher and earn significantly less than men do in the first-price auction, while we find no evidence of a gender difference in the likelihood of dominant strategy play in the second-price auction. At a biological level, in the first-price auction, women during menstruation, when the estrogen level is lowest, do not bid differently from men. The gender difference in the first-price auction is driven by women during other phases of the menstrual cycle when they have higher estrogen levels.

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Paper provided by The Center for Economic Research and Graduate Education - Economics Institute, Prague in its series CERGE-EI Working Papers with number wp275.

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Date of creation: Sep 2005
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Handle: RePEc:cer:papers:wp275
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  1. 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.
  2. Uri Gneezy & Muriel Niederle & Aldo Rustichini, 2003. "Performance in Competitive Environments: Gender Differences," The Quarterly Journal of Economics, Oxford University Press, vol. 118(3), pages 1049-1074.
  3. Uri Gneezy & Aldo Rustichini, 2004. "Gender and Competition at a Young Age," American Economic Review, American Economic Association, vol. 94(2), pages 377-381, May.
  4. Marco Casari & John C. Ham & John H. Kagel, 2005. "Selection bias, demographic effects, and ability effects in common value auction experiments," Staff Reports 213, Federal Reserve Bank of New York.
  5. Muriel Niederle & Lise Vesterlund, 2005. "Do Women Shy Away From Competition? Do Men Compete Too Much?," NBER Working Papers 11474, National Bureau of Economic Research, Inc.
  6. Jianakoplos, Nancy Ammon & Bernasek, Alexandra, 1998. "Are Women More Risk Averse?," Economic Inquiry, Western Economic Association International, vol. 36(4), pages 620-30, October.
  7. E. Elisabet RutstrÃm, 1998. "Home-grown values and incentive compatible auction design," International Journal of Game Theory, Springer;Game Theory Society, vol. 27(3), pages 427-441.
  8. Burkhard C. Schipper, 2015. "Sex Hormones and Competitive Bidding," Management Science, INFORMS, vol. 61(2), pages 249-266, February.
  9. Goldin, Claudia, 1992. "Understanding the Gender Gap: An Economic History of American Women," OUP Catalogue, Oxford University Press, number 9780195072709, December.
  10. John G. Riley & William Samuelson, 1979. "Optimal Auctions," UCLA Economics Working Papers 152, UCLA Department of Economics.
  11. Maskin, Eric S & Riley, John G, 1984. "Optimal Auctions with Risk Averse Buyers," Econometrica, Econometric Society, vol. 52(6), pages 1473-1518, November.
  12. Ichino, Andrea & Moretti, Enrico, 2006. "Biological Gender Differences, Absenteeism and the Earning Gap," CEPR Discussion Papers 5785, C.E.P.R. Discussion Papers.
  13. 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.
  14. Rachel Croson & Uri Gneezy, 2009. "Gender Differences in Preferences," Journal of Economic Literature, American Economic Association, vol. 47(2), pages 448-74, June.
  15. Buser, Thomas, 2012. "Digit ratios, the menstrual cycle and social preferences," Games and Economic Behavior, Elsevier, vol. 76(2), pages 457-470.
  16. 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.
  17. Mariesa A. Herrmann & Jonah E. Rockoff, 2012. "Does Menstruation Explain Gender Gaps in Work Absenteeism?," Journal of Human Resources, University of Wisconsin Press, vol. 47(2), pages 493-508.
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