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Hypothetical-Actual Bid Calibration of a Multi-Good Auction

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Author Info
John A. List
M. Margolis
J. Shogren

Additional information is available for the following registered author(s):

Abstract

Evidence suggests the calibration of hypothetical and actual behavior is good-specific. We examine whether clustering commodities into mutual categories can reduce the burden. While we reject a common calibration across sets of commodities, a sport-specific calibration function cannot be rejected.

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File URL: http://karlan.yale.edu/fieldexperiments/pdf/List_Hypothetical-Actual%20bid%20calibration%20of%20a%20multigood%20auction.pdf
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Publisher Info
Paper provided by The Field Experiments Website in its series Framed Field Experiments with number 0039.

Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Length: 6 pages
Date of creation: 1998
Date of revision:
Handle: RePEc:feb:framed:0039

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Web page: http://www.fieldexperiments.com

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Related research
Keywords: Valuation; Calibration; Clusters;

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Find related papers by JEL classification:
C9 - Mathematical and Quantitative Methods - - Design of Experiments
Q0 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Diamond, Peter A & Hausman, Jerry A, 1994. "Contingent Valuation: Is Some Number Better than No Number?," Journal of Economic Perspectives, American Economic Association, vol. 8(4), pages 45-64, Fall. [Downloadable!] (restricted)
  2. John A. List & J. Shogren, 1998. "Calibration of the difference between actual and hypothetical valuations in a field experiment," Framed Field Experiments 0038, The Field Experiments Website. [Downloadable!]
    Other versions:
  3. Hausman, Jerry A, 1978. "Specification Tests in Econometrics," Econometrica, Econometric Society, vol. 46(6), pages 1251-71, November. [Downloadable!] (restricted)
  4. Fox, John A. & Shogren, Jason F. & Hayes, Dermot J. & Kliebenstein, James B., 1999. "CVM-X: Calibrating Contingent Values with Experimental Auction Markets," Staff General Research Papers 1311, Iowa State University, Department of Economics.
    Other versions:
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Eva Camacho-Cuena & Aurora García-Gallego & Nikolaos Georgantzís & Gerardo Sabater-Grande, 2004. "An Experimental Validation of Hypothetical WTP for a Recyclable Product," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 27(3), pages 313-335, March. [Downloadable!] (restricted)
  2. Lusk, Jayson, 2002. "Effects Of Cheap Talk On Consumer Willingness-To-Pay For Golden Rice," 2002 Annual meeting, July 28-31, Long Beach, CA 19597, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association). [Downloadable!]
    Other versions:
  3. Alfnes, Frode & Rickertsen, Kyrre, 2003. "Sc-X: Calibrating Stated Choice Surveys With Experimental Auction Markets," 2003 Annual Meeting, August 16-22, 2003, Durban, South Africa 25814, International Association of Agricultural Economists. [Downloadable!]
    Other versions:
  4. John A. List & David Lucking-Reiley, 2000. "Demand Reduction in Multiunit Auctions: Evidence from a Sportscard Field Experiment," American Economic Review, American Economic Association, vol. 90(4), pages 961-972, September. [Downloadable!] (restricted)
  5. Jay R. Corrigan & Matthew C. Rousu, 2008. "Testing Whether Field Auction Experiments are Demand Revealing in Practice," Working Papers 0804, Kenyon College, Department of Economics. [Downloadable!]
    Other versions:
  6. John A. List & Jay Shogren, 2002. "Calibration of Willingness-to-Accept," Framed Field Experiments 0054, The Field Experiments Website. [Downloadable!]
    Other versions:
  7. Robert G. Brummett & Rodolfo M. Nayga, Jr. & Ximing Wu, 2007. "On the Use of Cheap Talk in New Product Valuation," Economics Bulletin, Economics Bulletin, vol. 2(1), pages 1-9. [Downloadable!]
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This page was last updated on 2009-11-21.

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