Anchoring Effects: Evidence from Art Auctions.Reportar como inadecuado




Anchoring Effects: Evidence from Art Auctions. - Descarga este documento en PDF. Documentación en PDF para descargar gratis. Disponible también para leer online.

Reference: Alan Beggs and Kathryn Graddy, (2009). Anchoring Effects: Evidence from Art Auctions. American Economic Review, 99 (3), 1027 - 1039.Citable link to this page:

 

Anchoring Effects: Evidence from Art Auctions.

Abstract: This paper shows that the price of a painting sold at an art auction and the experts' pre-sale valuations are anchored on the price at which the painting previously sold at auction. We are able to separate anchoring from rational learning by using the identifying strategy that the unobservable component of quality for a particular painting remains constant between the last auction sale and the current auction sale. We interpret these results as anchoring on the part of the buyers, with the sellers and auctioneers either anticipating anchoring on the part of the buyers or exhibiting anchoring effects themselves.

Publication status:PublishedPeer Review status:Peer reviewedVersion:Publisher's versionNotes:Copyright © by the American Economic Association. Permission to make digital or hard copies of part or all of American Economic Association publications for personal or classroom use is granted without fee provided that copies are not distributed for profit or direct commercial advantage and that copies show this notice on the first page or initial screen of a display along with the full citation, including the name of the author. Copyrights for components of this work owned by others than AEA must be honored. Abstracting with credit is permitted. The author has the right to republish, post on servers, redistribute to lists and use any component of this work in other works. For others to do so requires prior specific permission and/or a fee. Permissions may be requested from the American Economic Association Administrative Office.

Bibliographic Details

Publisher: American Economic Association

Publisher Website: http://www.aeaweb.org/

Host: American Economic Reviewsee more from them

Publication Website: http://www.aeaweb.org/aer/

Issue Date: 2009Identifiers

Urn: uuid:61de5b29-b409-4731-a818-b92d2c022985

Doi: https://doi.org/10.1257/aer.99.3.1027 Item Description

Type: info:eu-repo/semantics/article;

Language: en

Version: Publisher's version

Relationships





Autor: Alan Beggs - institutionUniversity of Oxford - - - Kathryn Graddy - - - - Bibliographic Details Publisher: American Economic Asso

Fuente: https://ora.ox.ac.uk/objects/uuid:61de5b29-b409-4731-a818-b92d2c022985



DESCARGAR PDF




Documentos relacionados