The relevance of projection bias in decision making processes has been widely studied, but not specifically in experimental auctions. We study the role of projection bias in experimental auctions by examining the bidding behavior of hungry and non-hungry subjects on food products delivered...

Running conventional laboratory experiments (i.e., with a standard student subject pool) is common practice in economic experiments especially when methodological issues are explored. However, generalization of the results from such experiments to the entire population is subject to severe...

It is generally thought that market outcomes are improved with the provision of market information. As a result, the use of repeated rounds with price feedback has become standard practice in the applied experimental auction valuation literature. We conducted two experiments to determine how...

We reconcile �findings from the Multiple Price List method (Andersen et al., 2008) and the Convex Time Budget method (Andreoni and Sprenger, 2012a) that seem to have generated a heated debate in the time preference literature. Specifi�cally, we discuss the claims of Andreoni and Sprenger...

We examine whether religious priming can induce more truthful preference revelation in valuation research. Using induced value second price Vickrey auctions in both hypothetical and non-hypothetical contexts, our results suggest that religious priming can indeed induce more truthful bidding and...

We test whether induced mood states have an effect on elicited risk and time preferences in a conventional laboratory experiment. We jointly estimate risk and time preferences and use a mixture specification that allows choices to be consistent with Expected Utility theory or with probability...

We test whether induced mood states have an effect on elicited risk and time preferences. Risk preferences between subjects in the control, positive mood, and negative mood treatments are neither economically nor statistically significant. However, we find that subjects induced into a positive...

This article contributes to the research agenda of accommodating psychological insights in conventional lab experiments. We specifically test whether inducing subjects into different mood states has a significant effect on subjects rationality (in the form of preference reversals) and on bidding...

In this paper we show that the wildly popular Holt and Laury (2002) risk preference elicitation method confounds estimates of the curvature of the utility function, the traditional notion of risk preference, with an estimate of the extent to which an individual weights probabilities...

Despite the fact that conceptual models of individual decision making under risk are deterministic, attempts to econometrically estimate risk preferences require some assumption about the stochastic nature of choice. Unfortunately, the consequences of making different assumptions are, at...