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Anna Dodonova and Yuri Khoroshilov
''Behavioral biases in auctions: an experimental study''
( 2009, Vol. 29 No.3 )
This paper investigates implications of some of the well-known behavioral biases of bidders' behavior in different types of auctions. It presents the results of an experimental study that tests the endowment hypothesis for English auctions and regret aversion hypothesis for first-price sealed-bid auctions. This study documents support for the former and no support for the latter hypotheses.
Keywords: auction; regret; endowment effect; loss aversion; behavioral economics
JEL: D4 - Market Structure and Pricing: General
Manuscript Received : Jul 29 2009 Manuscript Accepted : Sep 04 2009

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