IDEAS home Printed from https://ideas.repec.org/p/ags/aaea11/103041.html
   My bibliography  Save this paper

Initial Endowment Effects in Multi-Unit Vickrey Auctions

Author

Listed:
  • Akaichi, Faiçal
  • Nayga, Rodolfo M., Jr.
  • Gil, Jose Maria

Abstract

We report the result of experiments designed to assess the effect of initial endowments on willingness to pay values elicited from multi-unit Vickrey auctions. Comparing bids from an “endow and upgrade” approach with the “full bidding” approach, we find that the direction of the endowment effect generally depends on the number of endowed units of the conventional product that subjects are willing to give up in exchange for units of the upgraded product. The endowment effect is “reverse” when the number of units that participants are willing to give up is lower or equal to the number of remaining endowed units. However, we generally find an endowment effect when the number of units a participant is willing to give up is higher than the number of remaining endowed units.

Suggested Citation

  • Akaichi, Faiçal & Nayga, Rodolfo M., Jr. & Gil, Jose Maria, 2011. "Initial Endowment Effects in Multi-Unit Vickrey Auctions," 2011 Annual Meeting, July 24-26, 2011, Pittsburgh, Pennsylvania 103041, Agricultural and Applied Economics Association.
    • Handle: RePEc:ags:aaea11:103041
    DOI: 10.22004/ag.econ.103041
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/103041/files/Poster.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.103041?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Other versions of this item:

    More about this item

    Keywords

    Agribusiness; Research Methods/ Statistical Methods; Teaching/Communication/Extension/Profession;
    All these keywords.

    JEL classification:

    • C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • D44 - Microeconomics - - Market Structure, Pricing, and Design - - - Auctions

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:aaea11:103041. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/aaeaaea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.