Bidding for nothing?

• Verfasst von: Dürsch, Peter [VerfasserIn]
• Verfasst von: Müller, Julia [VerfasserIn]
• Titel: Bidding for nothing?
• Titelzusatz: the pitfalls of overly neutral framing
• Verf.angabe: Peter Duersch & Julia Müller
• Jahr: 2017
• Jahr des Originals: 2016
• Umfang: 4 S.
• Fussnoten: Gesehen am 26.09.2018 ; Published online: 12 Oct 2016
• Titel Quelle: Enthalten in: Applied economics letters
• Ort Quelle: New York, NY : Routledge, 1994
• Jahr Quelle: 2017
• Band/Heft Quelle: 24(2017), 13, Seite 932-935
• ISSN Quelle: 1466-4291
• DOI: doi:10.1080/13504851.2016.1240337
• Datenträger: Online-Ressource
• Sprache: eng
• Bibliogr. Hinweis: Erscheint auch als : Druck-Ausgabe: Dürsch, Peter: Bidding for nothing?. - 2017
• Sach-SW: C90
• Sach-SW: Context
• Sach-SW: D44
• Sach-SW: experiment
• Sach-SW: experimenter demand effect
• Sach-SW: neutral framing
• Sach-SW: second-price auction
• K10plus-PPN: 1581335318

Abstract

Neutral framing is a standard tool of experimental economics. However, overly neutral instructions, which lack any contextual clues, can lead to strange behaviour. In a contextless second-price auction for a meaningless good, a majority of subjects enter positive bids - likely a case of cognitive experimenter demand effect. Subjects may interpret the lack of context as being tasked with bidding in the experiment. Adding another auction that has a context drastically reduces the positive bids in the meaningless auction.