Inattention and Prices Over Time: Experimental Evidence from 'The Price Is Right' (1972-2019)

@article{Hartley2019InattentionAP,
  title={Inattention and Prices Over Time: Experimental Evidence from 'The Price Is Right' (1972-2019)},
  author={Jonathan S. Hartley},
  journal={Macroeconomics: Prices},
  year={2019}
}
This paper uses nearly five decades of data from "The Price Is Right", the longest running gameshow in television history, as a natural experiment to understand how attention to prices has changed in recent decades. Using nearly 30,000 trials (120,000 bids) of the one-bid “Contestant’s Row” game from 1972 to 2019, contestants have increasingly underestimated the true price of the good over time with an increasingly greater magnitude, suggesting that individuals have become more inattentive to… 

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