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Bargaining in a "Pawn Shop": A field experiment to study WTA

Andrea Morone () and Paola Tiranzoni ()

Framed Field Experiments from The Field Experiments Website

Abstract: This study presents an analysis of hypothetical bias in WTA valuation connected with a bargaining game setting, in a field experiment context. The field of the experiment is the History Channel television "Pawn Stars". We collected a unique dataset that allowed us to analyze not only the gap between real and hypothetical WTA but also how they affect the bargaining game and vice versa. The general aim of this paper is to study the hypothetical bias related to subjects' WTA, and the factors that mostly affect it. The main results, of our paper, show that the hypothetical bias is positive, and it depends mainly on the price range and the type of good.

Date: 2020
New Economics Papers: this item is included in nep-exp
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