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Please use this identifier to cite or link to this item: http://purl.umn.edu/32510

Title: A NOTE ON THE EXISTENCE OF STARTING POINT BIAS IN ITERATIVE BIDDING GAMES
Authors: Samples, Karl C.
Issue Date: 1985-07
Abstract: This note further illuminates the strength and direction of starting point bias in iterative bidding procedures. Conflicting recent findings concerning the starting point bias phenomenon are first briefly overviewed. The hypothesis that starting values influence valuations obtained in iterative bidding games is then tested in an experimental setting using widely disparate starting values ranging from $1 to $8,000. Statistically significant differences in mean final bidding outcomes were consistently detected in games using different starting values. This evidence, combined with test results reported elsewhere, strongly suggests that starting point value selection can have subtle but significant effects on observed final bids.
URI: http://purl.umn.edu/32510
Institution/Association: Western Journal of Agricultural Economics>Volume 10, Number 01, July 1985
Total Pages: 9
Language: English
From Page: 32
To Page: 40
Collections:Volume 10, Number 01, July 1985

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