skip to content
Naturally occurring markets and exogenous laboratory experiments : a case study of the winner's curse Preview this item
ClosePreview this item
Checking...

Naturally occurring markets and exogenous laboratory experiments : a case study of the winner's curse

Author: Glenn W Harrison; John A List; National Bureau of Economic Research.
Publisher: Cambridge, Mass. : National Bureau of Economic Research, 2007.
Series: Working paper series (National Bureau of Economic Research), no. 13072.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Summary:
There has been a dramatic increase in the use of experimental methods in the past two decades. An oft-cited reason for this rise in popularity is that experimental methods provide the necessary control to estimate treatment effects in isolation of other confounding factors. We examine the relevance of experimental findings from laboratory settings that abstract from the field context of the task that theory purports  Read more...
Rating:

(not yet rated) 0 with reviews - Be the first.

Subjects
More like this

Find a copy online

Links to this item

Find a copy in the library

&AllPage.SpinnerRetrieving; Finding libraries that hold this item...

Details

Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Glenn W Harrison; John A List; National Bureau of Economic Research.
OCLC Number: 123895743
Description: 1 online resource (1 volume).
Series Title: Working paper series (National Bureau of Economic Research), no. 13072.
Responsibility: Glenn W. Harrison, John A. List.

Abstract:

There has been a dramatic increase in the use of experimental methods in the past two decades. An oft-cited reason for this rise in popularity is that experimental methods provide the necessary control to estimate treatment effects in isolation of other confounding factors. We examine the relevance of experimental findings from laboratory settings that abstract from the field context of the task that theory purports to explain. Using common value auction theory as our guide, we identify naturally occurring settings in which one can test the theory. In our treatments the subjects are not picked at random, as in lab experiments with student subjects, but are deliberately identified by their trading roles in the natural field setting. We find that experienced agents bidding in familiar roles do not fall prey to the winner's curse. Yet, when experienced agents are observed bidding in an unfamiliar role, we find that they frequently fall prey to the winner's curse. We conclude that the theory predicts field behavior well when one is able to identify naturally occurring field counterparts to the key theoretical conditions.

Reviews

User-contributed reviews
Retrieving GoodReads reviews...
Retrieving DOGObooks reviews...

Tags

Be the first.

Similar Items

Confirm this request

You may have already requested this item. Please select Ok if you would like to proceed with this request anyway.

Linked Data


Primary Entity

<http://www.worldcat.org/oclc/123895743> # Naturally occurring markets and exogenous laboratory experiments : a case study of the winner's curse
    a schema:MediaObject, schema:Book, schema:CreativeWork ;
    library:oclcnum "123895743" ;
    library:placeOfPublication <http://id.loc.gov/vocabulary/countries/mau> ;
    library:placeOfPublication <http://experiment.worldcat.org/entity/work/data/197800047#Place/cambridge_mass> ; # Cambridge, Mass.
    schema:about <http://experiment.worldcat.org/entity/work/data/197800047#Topic/research_methodology_mathematical_models> ; # Research--Methodology--Mathematical models
    schema:about <http://dewey.info/class/330/> ;
    schema:bookFormat schema:EBook ;
    schema:contributor <http://viaf.org/viaf/117869606> ; # John A. List
    schema:contributor <http://viaf.org/viaf/135446122> ; # National Bureau of Economic Research.
    schema:creator <http://viaf.org/viaf/714865> ; # Glenn W. Harrison
    schema:datePublished "2007" ;
    schema:description "There has been a dramatic increase in the use of experimental methods in the past two decades. An oft-cited reason for this rise in popularity is that experimental methods provide the necessary control to estimate treatment effects in isolation of other confounding factors. We examine the relevance of experimental findings from laboratory settings that abstract from the field context of the task that theory purports to explain. Using common value auction theory as our guide, we identify naturally occurring settings in which one can test the theory. In our treatments the subjects are not picked at random, as in lab experiments with student subjects, but are deliberately identified by their trading roles in the natural field setting. We find that experienced agents bidding in familiar roles do not fall prey to the winner's curse. Yet, when experienced agents are observed bidding in an unfamiliar role, we find that they frequently fall prey to the winner's curse. We conclude that the theory predicts field behavior well when one is able to identify naturally occurring field counterparts to the key theoretical conditions."@en ;
    schema:exampleOfWork <http://worldcat.org/entity/work/id/197800047> ;
    schema:inLanguage "en" ;
    schema:isPartOf <http://experiment.worldcat.org/entity/work/data/197800047#Series/nber_working_paper_series> ; # NBER working paper series ;
    schema:isPartOf <http://experiment.worldcat.org/entity/work/data/197800047#Series/working_paper_series_national_bureau_of_economic_research> ; # Working paper series (National Bureau of Economic Research) ;
    schema:name "Naturally occurring markets and exogenous laboratory experiments : a case study of the winner's curse"@en ;
    schema:productID "123895743" ;
    schema:publication <http://www.worldcat.org/title/-/oclc/123895743#PublicationEvent/cambridge_mass_national_bureau_of_economic_research_2007> ;
    schema:publisher <http://experiment.worldcat.org/entity/work/data/197800047#Agent/national_bureau_of_economic_research> ; # National Bureau of Economic Research
    schema:url <http://ezproxy.eui.eu/login?url=http://papers.nber.org/papers/> ;
    schema:url <http://papers.nber.org/papers/13072> ;
    schema:url <http://0-papers.nber.org.biblio.eui.eu/papers/> ;
    schema:url <http://papers.nber.org/papers/w13072> ;
    schema:url <http://www.library.yorku.ca/e/resolver/id/1953038> ;
    schema:url <http://VH7QX3XE2P.search.serialssolutions.com/?V=1.0&L=VH7QX3XE2P&S=AC_T_B&C=Naturally%20Occurring%20Markets%20and%20Exogenous%20Laboratory%20Experiments%20%3A%20A%20Case%20Study%20of%20the%20Winner%27s%20Curse&T=marc&tab=BOOKS> ;
    wdrs:describedby <http://www.worldcat.org/title/-/oclc/123895743> ;
    .


Related Entities

<http://experiment.worldcat.org/entity/work/data/197800047#Agent/national_bureau_of_economic_research> # National Bureau of Economic Research
    a bgn:Agent ;
    schema:name "National Bureau of Economic Research" ;
    .

<http://experiment.worldcat.org/entity/work/data/197800047#Place/cambridge_mass> # Cambridge, Mass.
    a schema:Place ;
    schema:name "Cambridge, Mass." ;
    .

<http://experiment.worldcat.org/entity/work/data/197800047#Series/nber_working_paper_series> # NBER working paper series ;
    a bgn:PublicationSeries ;
    schema:hasPart <http://www.worldcat.org/oclc/123895743> ; # Naturally occurring markets and exogenous laboratory experiments : a case study of the winner's curse
    schema:name "NBER working paper series ;" ;
    .

<http://experiment.worldcat.org/entity/work/data/197800047#Series/working_paper_series_national_bureau_of_economic_research> # Working paper series (National Bureau of Economic Research) ;
    a bgn:PublicationSeries ;
    schema:hasPart <http://www.worldcat.org/oclc/123895743> ; # Naturally occurring markets and exogenous laboratory experiments : a case study of the winner's curse
    schema:name "Working paper series (National Bureau of Economic Research) ;" ;
    .

<http://experiment.worldcat.org/entity/work/data/197800047#Topic/research_methodology_mathematical_models> # Research--Methodology--Mathematical models
    a schema:Intangible ;
    schema:hasPart <http://id.loc.gov/authorities/subjects/sh2002009792> ;
    schema:name "Research--Methodology--Mathematical models"@en ;
    .

<http://papers.nber.org/papers/13072>
    rdfs:comment "An electronic book accessible through the World Wide Web; click for information" ;
    .

<http://viaf.org/viaf/117869606> # John A. List
    a schema:Person ;
    schema:birthDate "1968" ;
    schema:familyName "List" ;
    schema:givenName "John A." ;
    schema:name "John A. List" ;
    .

<http://viaf.org/viaf/135446122> # National Bureau of Economic Research.
    a schema:Organization ;
    schema:name "National Bureau of Economic Research." ;
    .

<http://viaf.org/viaf/714865> # Glenn W. Harrison
    a schema:Person ;
    schema:familyName "Harrison" ;
    schema:givenName "Glenn W." ;
    schema:name "Glenn W. Harrison" ;
    .

<http://www.worldcat.org/title/-/oclc/123895743>
    a genont:InformationResource, genont:ContentTypeGenericResource ;
    schema:about <http://www.worldcat.org/oclc/123895743> ; # Naturally occurring markets and exogenous laboratory experiments : a case study of the winner's curse
    schema:dateModified "2019-02-09" ;
    void:inDataset <http://purl.oclc.org/dataset/WorldCat> ;
    .


Content-negotiable representations

Close Window

Please sign in to WorldCat 

Don't have an account? You can easily create a free account.