of the two-system model in the context of activating the potential to either win or lose an online auction. This study … anticipated goals of winning the auction - rather than the fear of losing - drive the bidder‘s actions. In the latter case, the … eBay and two lab studies confirm this phenomenon …

We investigate experimentally whether emotions affect bidding behavior in a firstprice auction. To induce emotions, we … confront subjects after a first auction series with apositive or negative random economic shock. We then explore the relation … between emotions andbidding behavior in a second auction series. Our main results are: (i) the economic shock has asubstantial …