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Cited by 294

The DOI matches its Crossref record; 19 of the 19 references it cites were found in a registry or an index.

Anchoring Effects: Evidence from Art Auctions

Beggs, Alan, Graddy, Kathryn·2009·American Economic Review
DOI 10.1257/aer.99.3.1027
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Abstract

This paper shows that the price of a painting sold at an art auction and the experts' pre-sale valuations are anchored on the price at which the painting previously sold at auction. We are able to separate anchoring from rational learning by using the identifying strategy that the unobservable component of quality for a particular painting remains constant between the last auction sale and the current auction sale. We interpret these results as anchoring on the part of the buyers, with the sellers and auctioneers either anticipating anchoring on the part of the buyers or exhibiting anchoring effects themselves. (JEL D44, Z11)

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Metadata

Authors
Beggs, A., & Graddy, K.
Venue
American Economic Review
Publisher
American Economic Association
Published
2009-05-01
Volume
99
Issue
3
Pages
1027-1039
ISSN
0002-8282 (ISSN-L)
DOI
10.1257/aer.99.3.1027
OpenAlex
W2160739896
Cited by
294
References
19
FWCI
13.98
Type
journal article
Language
en
Open access
closed

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CoChat. (2026). Citation check: Anchoring Effects: Evidence from Art Auctions. https://app.cochat.ai/papers/10.1257/aer.99.3.1027
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Beggs, A., & Graddy, K. (2009). Anchoring Effects: Evidence from Art Auctions. American Economic Review. https://doi.org/10.1257/aer.99.3.1027

Data sources

Bibliographic data: Semantic Scholar, OpenAlex, Crossref.

Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.