Do Anomalies Disappear in Repeated Markets

By G. Loomes, C. Starmer, Robert Sugden. 2003

142 citations recorded by the source corpus.

Subfields: Economics and Econometrics, General Decision Sciences, Safety Research

View Paper: https://www.semanticscholar.org/paper/2b9fa6209cd6d92a8f04bfbcee8f7b9f887d95a4

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Citations in the corpus

On Behavioral-Environmental Economics (2008, background): “Loomes, Starmer, and Sugden (2003) have an alternative view and argue that seemingly rational bidders are actually using a behavioral rule of thumb in that they are “anchoring” on the posted price such that they are being led by the nose, so to speak.”
Experimental Evidence on Alternative Environmental Valuation Methods (2006, unknown): “45. Loomes et al. (2003) correctly note that affiliation in values may be a confound in some recent experimental studies claiming that anomalies disappear in ‘‘real markets’’ that have stationary repetition.”
The road not taken: how psychology was removed from economics, and how it might be brought back* (2007, background): “This seems to be due partly to people learning not to use the bargaining ploy of over-stating valuations when selling and under-stating them when buying, and partly due to their becoming less loss-averse as they gain experience of selling (List, 2003; Loomes et al., 2003; Plott and Zeiler, 2005).”
Preference Anomalies, Preference Elicitation and the Discovered Preference Hypothesis (2005, background): “One example is provided by Loomes et al. (2003), who suggest a simple learning hypothesis that is consistent with much of the evidence we have discussed.”
The impact of experience on risk taking, overconfidence, and herding of fund managers: Complementary survey evidence (2006, background): “In later rounds this disparity, however, disappears [cf. Shogren et al. (2001), Loomes et al. (2003)].”
The Willingness to Pay-Willingness to Accept Gap, the 'Endowment Effect,' Subject Misconceptions, and Experimental Procedures for Eliciting Valuations (2011, background): “One alternative hypothesis is that trading experience weakens an individual’s perception of “not trading” as a salient reference point (Loomes et al., 2003).”
Field Experiments: A Bridge between Lab and Naturally Occurring Data (2007, result): “Note that this interpretation is consistent with the empirical results reported in recent lottery auction results of Loomes et al (2003).”