|Roundness and regret|
|by Justin Svec|
It has been shown that the roundness of a survey respondent's answer reveals her level of uncertainty. That is, the more round the estimate given, the more uncertain the respondent. In this project, I would like to test whether the auction participants who bid round values for a lot (a group of objects being sold) are more likely to regret their purchase than auction participants who bid specific values. The hypothesis behind this test is that participants who bid round values are more uncertain about the lot's true value and so, by winning the lot, they worry that the true value is less than what they paid, leading to regret.
Stage of idea: Requisition
Unmet requisite(s): Collaborator
Academic discipline(s): Auctions, regret
Created on Aug 31, 2017 and last updated on Nov 10, 2017.
Suggested citation: Svec, Justin, 2017. "Roundness and regret." ResearchIdeas.org, http://www.ResearchIdeas.org/posts/16/.