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Experimental auctions

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Economists, psychologists, and marketers are interested in determining the monetary value people place on non-market goods for a variety of reasons: to carry out cost-benefit analysis, to determine the welfare effects of technological innovation or public policy, to forecast new product success, and to understand individual and consumer behavior. Unfortunately, many currently available techniques for eliciting individuals' values suffer from a serious problem in that they involve asking individuals hypothetical questions about intended behavior. Experimental auctions circumvent this problem because they involve individuals exchanging real money for real goods in an active market. This represents a promising means for eliciting non-market values. Lusk and Shogren provide a comprehensive guide to the theory and practice of experimental auctions. It will be a valuable resource to graduate students, practitioners and researchers concerned with the design and utilization of experimental auctions in applied economic and marketing research.

Title Experimental auctions : methods and applications in economic and marketing research / Jayson L. Lusk and Jason F. Shogren. [electronic resource]
Publisher Cambridge : Cambridge University Press
Creation Date 2007
Notes Title from publisher's bibliographic system (viewed on 05 Oct 2015).
Includes bibliographical references (p. 279-296) and index.
English
Content Cover
Half-title
Series-title
Title
Copyright
Acknowledgments
Contents
Figures
Tables
1 Introduction
2 Incentive compatible auctions: theory and evidence
3 Value theory
4 Conducting experimental auctions: some preliminaries
5 Conducting experimental auctions
6 Data analysis
7 Valuation case studies
8 Auction design: case studies
9 Validity of experimental auctions
10 The future of experimental auctions
References
Index
Series Quantitative methods for applied economics and business research
Extent 1 online resource (xii, 304 pages) : digital, PDF file(s).
Language English
National Library system number 997010716963205171
MARC RECORDS
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