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American Economic Review: Vol. 97 No. 4 (September 2007)
AER Volume. 97, Issue 4 | 
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AER Forthcoming Articles
Selection Bias, Demographic Effects, and Ability Effects in Common Value Auction Experiments
Article Citation
Casari, Marco,
John C. Ham, and
John H. Kagel. 2007. "Selection Bias, Demographic Effects, and Ability Effects in Common Value Auction Experiments."
American Economic Review,
97(4): 1278-1304.
DOI: 10.1257/aer.97.4.1278
DOI: 10.1257/aer.97.4.1278
Abstract
Inexperienced women, along with economics and business majors, are much
more susceptible to the winner's curse, as are subjects with lower SAT/ACT
scores. There are strong selection effects in bid function estimates for inexperienced
and experienced subjects due to bankruptcies and bidders who
have lower earnings returning less frequently as experienced subjects. These
selection effects are not identified using standard econometric techniques but
are identified through experimental treatment effects. Ignoring these selection
effects leads to misleading estimates of learning. (JEL D44, D83, J16)
Article Full-Text Access
Full-text Article
Additional Materials
Download Data Set (751.70 KB) | Link to Additional Materials (166.07 KB)
Authors
Casari, Marco
Ham, John C.
Kagel, John H.
Ham, John C.
Kagel, John H.
