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Does Market Experience Eliminate Market Anomalies? The Case of Exogenous Market Experience

John List

No 16908, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: A vibrant literature has emerged that suggests willingness to pay and willingness to accept measures of value are quite different for inexperienced consumers but that value differences erode with market experience. One potential shortcoming of this literature is that market experience is endogenous. This study presents a framed field experiment that exogenously induces market experience. Empirical findings support the premise that market experience, alone, can eliminate an important market anomaly.

JEL-codes: C93 D01 Q5 (search for similar items in EconPapers)
Date: 2011-03
New Economics Papers: this item is included in nep-exp and nep-mkt
Note: EEE PE
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Published as John A. List, 2011. "Does Market Experience Eliminate Market Anomalies? The Case of Exogenous Market Experience," American Economic Review, American Economic Association, vol. 101(3), pages 313-17, May.

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Journal Article: Does Market Experience Eliminate Market Anomalies? The Case of Exogenous Market Experience (2011) Downloads
Working Paper: Does market experience eliminate market anomalies? The case of exogenous market experience (2011) Downloads
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