Experimental Auctions: Methods and Applications in Economic and Marketing Research by Jayson L. Lusk, Jason F. Shogren | | 9780521671248 | Paperback | Barnes & Noble
Experimental Auctions: Methods and Applications in Economic and Marketing Research

Experimental Auctions: Methods and Applications in Economic and Marketing Research

by Jayson L. Lusk, Jason F. Shogren
     
 

ISBN-10: 0521671248

ISBN-13: 9780521671248

Pub. Date: 01/14/2008

Publisher: Cambridge University Press

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,

Overview

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.

Product Details

ISBN-13:
9780521671248
Publisher:
Cambridge University Press
Publication date:
01/14/2008
Series:
Quantitative Methods for Applied Economics and Business Research Series
Edition description:
New Edition
Pages:
316
Product dimensions:
6.81(w) x 9.69(h) x 0.75(d)

Table of Contents

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.

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