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.

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Year of publication:	2004
Authors:	Dodonova, Anna ; Khoroshilov, Yuri
Published in:	Applied Economics Letters. - Taylor & Francis Journals, ISSN 1350-4851. - Vol. 11.2004, 5, p. 307-310
Publisher:	Taylor & Francis Journals

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Extent:	text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005435325