Using Experimental Auctions for Marketing Applications: A Discussion
AbstractThe present article discusses general issues associated with experimental auctions and their relative advantages and disadvantages over other marketing research techniques. Experimental auctions create an active market environment with feedback where subjects exchange real goods and real money, which is not generally the case with other methods. The article also discusses four experimental design issues associated with experimental auctions: auction mechanism, market feedback and bidder affiliation, demand reduction and wealth effects, and multiple attribute valuation. Each of these experimental design issues, if not properly controlled, have the potential to create serious flaws in marketing recommendations.
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Bibliographic InfoArticle provided by Southern Agricultural Economics Association in its journal Journal of Agricultural and Applied Economics.
Volume (Year): 35 (2003)
Issue (Month): 02 (August)
auctions; experimental economics; marketing; valuation; willingness-to-pay; D44; C92; Q13; M31;
Find related papers by JEL classification:
- D44 - Microeconomics - - Market Structure and Pricing - - - Auctions
- C92 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Group Behavior
- Q13 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Markets and Marketing; Cooperatives; Agribusiness
- M31 - Business Administration and Business Economics; Marketing; Accounting - - Marketing and Advertising - - - Marketing
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- Jay R. Corrigan & Matthew C. Rousu, 2006.
"Posted Prices and Bid Affiliation: Evidence from Experimental Auctions,"
0602, Kenyon College, Department of Economics.
- Jay R. Corrigan & Matthew C. Rousu, 2006. "Posted Prices and Bid Affiliation: Evidence from Experimental Auctions," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 88(4), pages 1078-1090.
- Lusk, Jayson L. & Alexander, Corinne E. & Rousu, Matthew C., 2004. "Designing Experimental Auctions For Marketing Research: Effect Of Values, Distributions, And Mechanisms On Incentives For Truthful Bidding," 2004 Annual meeting, August 1-4, Denver, CO 20202, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
- Nalley, Lawton Lanier & Hudson, Darren & Parkhurst, Gregory M., 2006. "Consistency of Consumer Valuation Under Different Information Sets: An Experimental Auction with Sweet Potatoes," Journal of Food Distribution Research, Food Distribution Research Society, vol. 37(03), November.
- repec:hal:wpaper:halshs-00722592 is not listed on IDEAS
- Sabrina Teyssier & Fabrice Etilé & Pierre Combris, 2012. "Social- and Self-Image Concerns in Fair-Trade Consumption: Evidence from Experimental Auctions for Chocolate," PSE Working Papers halshs-00722592, HAL.
- Tonsor, Glynn T. & Wolf, Christopher A., 2011. "On mandatory labeling of animal welfare attributes," Food Policy, Elsevier, vol. 36(3), pages 430-437, June.
- Buller, Virginia & Hudson, Darren & Parkhurst, Gregory M. & Whittington, Andrew, 2006. "The Impact of Hunting Package Attributes on Hunting Package Prices in Mississippi," Research reports 15798, Mississippi State University, Department of Agricultural Economics.
- Andreas C. Drichoutis & Panagiotis Lazaridis & Rodolfo M. Nayga, 2009. "Would consumers value food-away-from-home products with nutritional labels?," Agribusiness, John Wiley & Sons, Ltd., vol. 25(4), pages 550-575.
- Marcellino, Dana M. & Wilson, Christine A., 2006. "Valuing Farm Financial Information," 2006 Annual meeting, July 23-26, Long Beach, CA 21243, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
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