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Learning differences in mixed common value auctions

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  • GOERTZ, Johanna M.M.

Abstract

I examine the behavior of subjects in common value auctions with both experienced and inexperienced bidders in the same market. Subjects know that they are competing against both experienced and inexperienced subjects and can observe bidding behavior of their opponents after an auction round. The existence and common knowledge of mixed experience levels in the same auction market affects the bidding behavior of inexperienced bidders, and gender plays an important role: Inexperienced males bid more aggressively in auction market with mixed bidders compared to markets with only inexperienced bidders, but inexperienced females bid less aggressively. The mixed markets only have an effect on inexperienced bidders. Experienced bidders (males and females) do not react significantly different in mixed auction markets than in markets with only experienced bidders.

Suggested Citation

  • GOERTZ, Johanna M.M., 2007. "Learning differences in mixed common value auctions," LIDAM Discussion Papers CORE 2007038, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    • Handle: RePEc:cor:louvco:2007038
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    File URL: https://sites.uclouvain.be/core/publications/coredp/coredp2007.html
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    Cited by:

    1. Zhang, Yu Yvette & Nayga, Rodolfo M. Jr. & Depositario, Dinah Pura T, 2015. "Women and Men are Different but Equal: Observations of Learning Behavior in Auctions," 2015 AAEA & WAEA Joint Annual Meeting, July 26-28, San Francisco, California 205699, Agricultural and Applied Economics Association.

    More about this item

    Keywords

    common value auction; auction experiments; learning; gender;
    All these keywords.

    JEL classification:

    • D44 - Microeconomics - - Market Structure, Pricing, and Design - - - Auctions
    • C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior

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