The Effect of Bidders' Regret Miscalibration on Bidding Decisions

shuili du, boston university
Lisa Abendroth, boston university

BIDDERS’ REGRET MISCALIBRATION AND ITS EFFECT ON BIDDING DECISIONS

Shuili Du, Boston University

Lisa Abendroth, Boston University

This research investigates regret miscalibration that occurs during the bidding process. We examines two aspects of regret miscalibration: miscalibration in magnitude—anticipated regret that does not equal experienced regret for the same outcome, and miscalibration in type —focusing on the type of regret that is lesser in magnitude. We explore the implications of regret miscalibration on bidding decisions and examine the role of availability in attenuating regret miscalibration. Two studies that we ran provide support for our hypotheses.
[ to cite ]:
shuili du and Lisa Abendroth (2006) ,"The Effect of Bidders' Regret Miscalibration on Bidding Decisions", in NA - Advances in Consumer Research Volume 33, eds. Connie Pechmann and Linda Price, Duluth, MN : Association for Consumer Research, Pages: 516-516.