Preference Learning in Consecutive Experimental Auctions
通过连续四轮实验拍卖，区分了实验体验的新奇性和商品本身的新奇性对高价溢价的影响，发现偏好学习是主要驱动因素，对理解实验室估值偏差有参考价值。
Abstract This paper explores the origins of the strikingly high price premia paid for new food products in lab valuation exercises. Our experimental design distinguishes between two explanations of this phenomenon: novelty of the experimental experience versus the novelty of the good, i.e., preference learning—bids reflect a person's desire to learn how an unfamiliar good fits into their preference set. Subjects bid in four consecutive experimental auctions for three goods that vary in familiarity, candy bars, mangos, and irradiated meat. Our results suggest that preference learning is the main source of the high premia, and that novelty of the experimental experience does not in itself artificially inflate valuations.