Experimental Auctions

Erscheinungsjahr 2007
ISBN: 978-0-521-85516-7
Verlag: Cambridge University Press

Buch, Englisch, 316 Seiten, Format (B × H): 175 mm x 250 mm, Gewicht: 730 g

Reihe: Quantitative Methods for Applied Economics and Business Research

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.

Autoren/Hrsg.

Lusk, Jayson L.

Shogren, Jason F.

Fachgebiete

• Wirtschaftswissenschaften Volkswirtschaftslehre Volkswirtschaftslehre Allgemein Ökonometrie
• Wirtschaftswissenschaften Betriebswirtschaft Wirtschaftsmathematik und -statistik

Inhaltsverzeichnis

1. Introduction; 2. Theory of incentive compatible auctions and evidence from induced value experiments; 3. Value theory; 4. Conducting an experimental auction: some preliminaries; 5. Conducting experimental auctions; 6. Data analysis with experimental auction bids; 7. Valuation case studies; 8. Case studies on auction design; 9. Validity of experimental auctions; 10. Conclusion; Index.

Über Autor(innen)

Lusk, Jayson L.
Jayson L. Lusk is Professor and Willard Sparks Endowed Chair in the Department of Agricultural Economics, Oklahoma State University.

Shogren, Jason F.
Jason F. Shogren is Stroock Distinguished Professor of Natural Resource Conservation and Management, and Professor of Economics and Finance, University of Wyoming.