The Price Is Right, but Are the Bids? An Investigation of Rational Decision Theory

American Economic Review

Volumn 86, Issue 4, 1996, Pages 954-970

  Berk, Jonathan B ^a   Hughson, Eric ^b   Vandezande, Kirk ^c  

^a UNIVERSITY OF WASHINGTON   (United States)

^b UNIVERSITY OF UTAH   (United States)

^c SIMON FRASER UNIVERSITY   (Canada)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 0001467661     PISSN: 00028282     EISSN: None     Source Type: Journal    
DOI: None     Document Type: Article

References (17)

1. Bennett, Randall W. and Hickman, Kent A. "Rationality and 'The Price Is Right'." Journal of Economic Behavior and Organization, May 1993, 21(1), pp. 99-105.
2. Bolle, Friedel. "High Reward Experiments Without High Expenditure for the Experimenter." Journal of Economic Psychology, June 1990, 11(2), pp. 157-67.
3. Brown-Kruse, Jamie; Cronshaw, Mark B. and Schenk, David J. "Theory and Experiments on Spatial Competition." Economic Inquiry. January 1993. 31(1),pp. 139-65.
4. DeGroot, Morris H. Optimal Statistical Decisions. New York: McGraw-Hill, 1970.
5. Eaton, B. Curtis and Lipsey, Richard G. "Some New Developments in the Theory of Spatial Competition." Review of Economic Studies, January 1975, 42(1), pp. 27-50.
6. Gertner, Robert. "Game Shows and Economic Behavior: Risk-Taking on 'Card Sharks'." Quarterly Journal of Economics, May 1993, 108(2), pp. 507-22.
7. Hotelling, Harold. "Stability in Competition." Economic Journal, 1929, 39(153), pp. 41-57.
8. Kachelmeier, Steven J. and Shehata, Mohamed. "Examining Risk Preferences Under High Monetary Incentives: Experimental Evidence from the Peoples Republic of China." American Economic Review, December 1992, 82(5), pp. 1120-41.
9. Loeb, Daniel E. "Bidding Optimally on The Price Is Right." UMAP Journal, 1995, 76(2), pp. 123-35.
10. Metrick, Andrew. "A Natural Experiment in 'Jeopardy!'." American Economic Review, March 1995, 85(1), pp. 240-53.
11. Prescott, Edward C. and Visscher, Michael. "Sequential Location among Firms with Foresight." Bell Journal of Economics, Summer 1977, 8(2), pp. 378-93.
12. Rabin, Matthew. "Incorporating Fairness into Game Theory and Economics." American Economic Review, December 1993, 83(5), pp. 1281-302.
13. Roth, Alvin E. and Schoumaker, Francoise. "Expectations and Reputations in Bargaining." American Economic Review, June 1983, 73(3), pp. 362-72.
14. Sefton, Martin. "Incentives in Simple Bargaining Games." Journal of Economic Psychology, June 1992, 73(2), pp. 263-76.
15. Sheffrin, Steven M. Rational Expectations. New York: Cambridge University Press, 1983.
16. Simon, Herbert A. "Rational Decision Making in Business Organizations." American Economic Review, September 1979, 64(4), pp. 493-513.
17. Straub, Paul G. and Murnighan, J. Keith. "An Experimental Investigation of Ultimatum Games: Common Knowledge, Fairness, Expectations, and Lowest Acceptable Offers." Journal of Economic Behavior and Organization, August 1995, 27(3), pp. 345-64.