Investigating auction fever

  • Adam M
  • Krämer J
  • Weinhardt C
 et al. 
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Abstract

Auction fever is a frequently observed phenomenon in traditional and Internet auctions. However, traditional approaches of auction theory often neglect the inuence of emotions. In this paper we discuss a unied framework for emotional bidding in auctions and identify challenges for future auction fever research. In particular, we identify interdependent utilities and product characteristics as important inuencing factors for auction fever, which have only gained little attention in the literature at this stage. Further, methodological approaches for auction fever research are discussed. While a substantial part of auction fever literature is based on deception of participants, one has to consider fundamental drawbacks of this approach. In contrast, we nd that applying physiological measurements in economic laboratory experiments and auctioning real world commodities is a promising (complementary) approach. Further, letting subjects compete with computerized agents seems to be an adequate approach for assessing the importance of interdependent utilities.

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Authors

  • Marc T. P. Adam

  • Jan Krämer

  • Christof Weinhardt

  • Karl-Martin Ehrhart

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