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Lower Starting Bids Result in Higher Value in Auctions

Results of the “Starting Low but Ending High: A Reversal of Anchoring Effects and Auctions” study in 2006 conducted by Gillian Ku et al showed that contrary to popular belief of “start high, end high” effects in individual and dyadic negotiations, when it comes to auctions, lower starting bids result in higher final prices. Three […]
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