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Auctions with Resale When Private Values Are Uncertain: Evidence from the Lab and Field

Lange, Andreas; list, john; Price, Michael K. - National Bureau of Economic Research (NBER) - 2010

Auction theory represents one of the richest areas of research in economics over the past three decades. Yet, whether … therefore use a laboratory experiment to examine if the resale opportunity by itself can have the predicted theoretical effect …

Persistent link: https://www.econbiz.de/10008646462

Bid Takers or Market Makers? The Effect of Auctioneers on Auction Outcomes

Lacetera, Nicola; Larsen, Bradley J.; Pope, Devin G.; … - National Bureau of Economic Research (NBER) - 2013

A large body of research has explored the importance of auction design and information structure for auction outcomes …. Much less work has considered the importance of the auction process. For example, in many auctions, auctioneers are present … and can impact the process of the auction by varying starting prices, level of price adjustments, the speed of the auction …

Persistent link: https://www.econbiz.de/10010821660

Naturally Occurring Markets and Exogenous Laboratory Experiments: A Case Study of the Winner's Curse

Harrison, Glenn W.; list, john - National Bureau of Economic Research (NBER) - 2007

from the field context of the task that theory purports to explain. Using common value auction theory as our guide, we …

Persistent link: https://www.econbiz.de/10005085377

On the Generalizability of Experimental Results in Economics

list, john; Al-Ubaydli, Omar - National Bureau of Economic Research (NBER) - 2012

Economists are increasingly turning to the experimental method as a means to estimate causal effects. By using randomization to identify key treatment effects, theories previously viewed as untestable are now scrutinized, efficacy of public policies are now more easily verified, and stakeholders...

Persistent link: https://www.econbiz.de/10011188539

Small Victories: Creating Intrinsic Motivation in Savings and Debt Reduction

Brown, Alexander Lindale; Lahey, Joanna N. - National Bureau of Economic Research (NBER) - 2014

Saving when faced with the immediate option to spend is an unpleasant but not conceptually difficult task. One popular approach contradicts traditional economic theory by suggesting that people in debt should pay off their debts from smallest size to largest regardless of interest rate, to...

Persistent link: https://www.econbiz.de/10010950682

The Endowment Effect

Ericson, Keith M. Marzilli; Fuster, Andreas - National Bureau of Economic Research (NBER) - 2013

The endowment effect is among the best known findings in behavioral economics, and has been used as evidence for theories of reference-dependent preferences and loss aversion. However, a recent literature has questioned the robustness of the effect in the laboratory, as well as its relevance in...

Persistent link: https://www.econbiz.de/10010950917

Punishment and Cooperation in Stochastic Social Dilemmas

Xiao, Erte; Kunreuther, Howard - National Bureau of Economic Research (NBER) - 2012

Previous findings on punishment have focused on environments in which the outcomes are known with certainty. In this paper, we conduct experiments to investigate how punishment affects cooperation in a two-person stochastic prisoner's dilemma environment where each person can decide whether or...

Persistent link: https://www.econbiz.de/10010951021

Was there Really a Hawthorne Effect at the Hawthorne Plant? An Analysis of the Original Illumination Experiments

Levitt, Steven; list, john - National Bureau of Economic Research (NBER) - 2009

Experiment." Both academics and popular writers commonly summarize the results as showing that every change in light, even those …

Persistent link: https://www.econbiz.de/10005025629

The Nature of Excess: Using Randomized Treatments to Investigate Price Dynamics

list, john; Price, Michael K.; Al-Ubaydli, Omar - National Bureau of Economic Research (NBER) - 2010

This study explores empirically the price dynamics within two distinct market institutions - a double oral auction …

Persistent link: https://www.econbiz.de/10008533384

How Do Informal Agreements and Renegotiation Shape Contractual Reference Points?

Hart, Oliver D.; Fehr, Ernst; Zehnder, Christian - National Bureau of Economic Research (NBER) - 2011

Previous experimental work provides encouraging support for some of the central assumptions underlying Hart and Moore (2008)'s theory of contractual reference points. However, existing studies ignore realistic aspects of trading relationships such as informal agreements and ex post...

Persistent link: https://www.econbiz.de/10009353485