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Journals and Conferences
Through five experiments, we provide a cognitive account of when and why nineending prices are perceived to be smaller than a price one cent higher. First, this occurs only when the leftmost digits of the prices differ (e.g., $2.99 vs. $3.00). Second, the left-digit effect also depends on the numerical and psychological distances between the target price… (More)
In practice, the rules in most open English auctions require participants to raise bids by a sizeable, discrete amount. Furthermore, some bidders are typically more aggressive in seeking to become the “current bidder” during competitive bidding. Most auction theory, however, has assumedbidders can place any tiny “continuous” bid increase, and recommend as… (More)
(co-chaired by the first two authors).