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Testing Whether Field Auction Experiments Are Demand Revealing in Practice

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Listed:
  • Corrigan, Jay R.
  • Rousu, Matthew C.

Abstract

Recent evidence suggests that participants' misunderstanding of experimental auction mechanism can systematically bias auction results. We present a simple technique for testing whether field auction mechanism and, by extension, whether auction bids provide an unbiased estimate of participants' willingness to pay.

Suggested Citation

  • Corrigan, Jay R. & Rousu, Matthew C., 2008. "Testing Whether Field Auction Experiments Are Demand Revealing in Practice," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 33(2).
  • Handle: RePEc:ags:jlaare:42464
    DOI: 10.22004/ag.econ.42464
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    Demand and Price Analysis;

    JEL classification:

    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • D44 - Microeconomics - - Market Structure, Pricing, and Design - - - Auctions

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