Bidding for Nothing? The Pitfalls of overly Neutral Framing

Arbeitspapier

Neutral framing is a standard tool of experimental economics. However, overly neutral instructions, which lack any contextual clues, can lead to strange behavior. In a contextless second price auction for a meaningless good, a majority of subjects enter positive bids - a case of cognitive experimenter demand effect. Subjects bid positive amounts because this is what they think they are tasked with in the experiment. Adding a second auction that has a context drastically reduces the positive bids in the meaningless first auction by reducing the cognitive experimenter demand effect.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: Tinbergen Institute Discussion Paper ; No. 14-063/I

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Design of Experiments: General ; Auctions
• Thema: Context ; Neutral Framing ; Experimenter Demand Effect ; Experiment ; Second-Price Auction

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Dürsch, Peter ; Muller, Julia
• Ereignis: Veröffentlichung
• (wer): Tinbergen Institute
• (wo): Amsterdam and Rotterdam
• (wann): 2014

Weitere Informationen

• Handle: http://hdl.handle.net/10419/98876
• Letzte Aktualisierung: 10.03.2025, 11:42 MEZ