The Puzzle of Valuation Gaps Between Experimental Auction and Real Choice Experiments: Do Purchase Intention and Price Bargaining Preference Matter?
AbstractThis article examines the preferences revealed by two non-hypothetical experiments. We found that WTP estimates from real choice experiment are significantly than auction bids. We provide two possible reasons for it: consumers’ purchase intention and aggressiveness in price bargaining. Our results suggest that the discrepancies among experiments can come from the heterogeneity of respondents’ price bargaining aggressiveness, but not from purchase intention differences.
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Bibliographic InfoPaper provided by Agricultural and Applied Economics Association in its series 2013 Annual Meeting, August 4-6, 2013, Washington, D.C. with number 151282.
Date of creation: 2013
Date of revision:
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Consumer preferences; choice experiment; auction; purchase intention; price bargaining aggressiveness; Consumer/Household Economics;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-07-05 (All new papers)
- NEP-CBE-2013-07-05 (Cognitive & Behavioural Economics)
- NEP-DCM-2013-07-05 (Discrete Choice Models)
- NEP-EXP-2013-07-05 (Experimental Economics)
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