| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w23022 |
| 来源ID | Working Paper 23022 |
| Expectation, Disappointment, and Exit: Reference Point Formation in a Marketplace | |
| Matthew Backus; Thomas Blake; Dimitriy V. Masterov; Steven Tadelis | |
| 发表日期 | 2017-01-09 |
| 出版年 | 2017 |
| 语种 | 英语 |
| 摘要 | We study expectation-based reference point formation using data from an online auction marketplace. We hypothesize that exit from the marketplace is affected by disappointment from abruptly losing an auction after being the leading bidder. Expectation-based reference points that evolve over time imply that a bidder who spends more time in the lead prior to an abrupt loss will suffer a higher degree of disappointment. We find that for every additional day in the lead, bidders who lose abruptly are 6 percentage points more likely to exit. In contrast, losing bidders whose expectations are informed by early, competing bids, show no effect at all. Also, consistent with our theoretical model, more experienced bidders are less sensitive to time spent in the lead. |
| 主题 | Microeconomics ; Behavioral Economics ; Market Structure and Distribution ; Economics of Information |
| URL | https://www.nber.org/papers/w23022 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/580695 |
| 推荐引用方式 GB/T 7714 | Matthew Backus,Thomas Blake,Dimitriy V. Masterov,et al. Expectation, Disappointment, and Exit: Reference Point Formation in a Marketplace. 2017. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w23022.pdf（3759KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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