Replication data for: Anchoring Effects: Evidence from Art Auctions

Name: Replication data for: Anchoring Effects: Evidence from Art Auctions
Published: 2009-06-01
License: This work is licensed under an Other license created by the data depositor. Please refer to the LICENSE file, which should be located alongside the project data and documentation.
Keywords: Derived/Compiled Data

Principal Investigator(s): View help for Principal Investigator(s) Alan Beggs; Kathryn Graddy

Version: View help for Version V1

Name	File Type	Size	Last Modified
zipfile			10/20/2021 12:43:PM
LICENSE.txt	text/plain	14.6 KB	10/12/2019 04:58:AM
readme.pdf	application/pdf	46.3 KB	10/12/2019 04:58:AM

Project Citation:

Beggs, Alan, and Graddy, Kathryn. Replication data for: Anchoring Effects: Evidence from Art Auctions. Nashville, TN: American Economic Association [publisher], 2009. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E113297V1

Project Description

Summary: This paper shows that the price of a painting sold at an art auction and the experts' pre-sale valuations are anchored on the price at which the painting previously sold at auction. We are able to separate anchoring from rational learning by using the identifying strategy that the unobservable component of quality for a particular painting remains constant between the last auction sale and the current auction sale. We interpret these results as anchoring on the part of the buyers, with the sellers and auctioneers either anticipating anchoring on the part of the buyers or exhibiting anchoring effects themselves. (JEL D44, Z11)

Scope of Project

Subject Terms: Derived/Compiled Data

JEL Classification:
D44 Auctions
Z11 Cultural Economics: Economics of the Arts and Literature

Geographic Coverage: International

Time Period(s): 1980 – 1994

Data Type(s): event/transaction data

Methodology

Unit(s) of Observation: painting sale,

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Published Versions

V1 [2019-10-12]

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