Do practice rounds affect experimental auction results?

That's the title of my newest publication, which is joint work with Jay Corrigan and Dinah Depositario.

Link here

Abstract:

Researchers use practice rounds to familiarize participants with experimental auction mechanisms. We find a positive correlation between practice bids and bids submitted in later rounds. We consider three explanations for this correlation: a behavioral anchoring effect, a tendency for some auction participants to be more free-spending, and misconception of the experimental auction’s demand revealing qualities.