The role of training in experimental auctions

Andreas Drichoutis, Rodolfo Nayga and Panagiotis Lazaridis ()

No 2010-02, Working Papers from Agricultural University of Athens, Department Of Agricultural Economics

Abstract: In this paper we examine the role of providing extensive training to subjects in the context of experimental auctions. We conducted an experiment where we auctioned several lotteries with varying payoffs. One group of subjects was extensively trained while another group of subjects was only minimally trained. We find that subjects in the extensive training treatment, were submitting bids significantly higher than subjects in the minimal training treatment, suggesting that subjects without proper training may underreport their WTP.

Keywords: lottery; training; Vickrey auctions (search for similar items in EconPapers)
JEL-codes: D0 D81 (search for similar items in EconPapers)
Pages: 14
Date: 2010
New Economics Papers: this item is included in nep-exp
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Citations: View citations in EconPapers (1)

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http://aoatools.aua.gr/RePEc/aua/wpaper/files/2010_2_drichoutis.pdf (application/pdf)

Related works:
Journal Article: The Role of Training in Experimental Auctions (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:aua:wpaper:2010-02

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