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Using Experimental Auctions for Marketing Applications: A Discussion

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Author Info

  • Lusk, Jayson L.

Abstract

The 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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File URL: http://purl.umn.edu/43210
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Bibliographic Info

Article provided by Southern Agricultural Economics Association in its journal Journal of Agricultural and Applied Economics.

Volume (Year): 35 (2003)
Issue (Month): 02 (August)
Pages:

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Handle: RePEc:ags:joaaec:43210

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Web page: http://www.saea.org/jaae/jaae.htm
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Related research

Keywords: auctions; experimental economics; marketing; valuation; willingness-to-pay; D44; C92; Q13; M31;

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Cited by:
  1. 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.
  2. 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).
  3. 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.
  4. repec:hal:wpaper:halshs-00722592 is not listed on IDEAS
  5. 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.
  6. 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).
  7. 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.
  8. 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.
  9. Tonsor, Glynn T. & Wolf, Christopher A., 2011. "On mandatory labeling of animal welfare attributes," Food Policy, Elsevier, vol. 36(3), pages 430-437, June.

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