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The External Validity of Experimental Economics Techniques: Analysis of Demand Behavior

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  • Brookshire, David S
  • Coursey, Don L
  • Schulze, William D

Abstract

This paper examines the parallelism which exists between demand behavior determined from the sale of a private good in an actu al "real world" field setting and in a laboratory auction setting. The demand behavior observed in the two settings is significantly the same leading to the corroboration of the thesis that there is often correspondence between laboratory and real world behavior. Copyright 1987 by Oxford University Press.

Suggested Citation

  • Brookshire, David S & Coursey, Don L & Schulze, William D, 1987. "The External Validity of Experimental Economics Techniques: Analysis of Demand Behavior," Economic Inquiry, Western Economic Association International, vol. 25(2), pages 239-250, April.
  • Handle: RePEc:oup:ecinqu:v:25:y:1987:i:2:p:239-50
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    Cited by:

    1. Fisher, Ann & Wheeler, William J. & Zwick, Rami, 1993. "Experimental Methods In Agricultural And Resource Economics: How Useful Are They?," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 22(2), October.
    2. Laurent Muller & Bernard Ruffieux, 2011. "Do price-tags influence consumers’ willingness to pay? On the external validity of using auctions for measuring value," Experimental Economics, Springer;Economic Science Association, vol. 14(2), pages 181-202, May.
    3. Tournadre, Fabienne & Villeval, Marie-Claire, 2004. "Learning from strikes," Labour Economics, Elsevier, vol. 11(2), pages 243-264, April.
    4. James Alm & Kim M. Bloomquist & Michael McKee, 2015. "On The External Validity Of Laboratory Tax Compliance Experiments," Economic Inquiry, Western Economic Association International, vol. 53(2), pages 1170-1186, April.
    5. repec:kap:enreec:v:68:y:2017:i:4:d:10.1007_s10640-016-0063-x is not listed on IDEAS
    6. Schilizzi, Steven & Latacz-Lohmann, Uwe, 2013. "Conservation tenders: linking theory and experiments for policy assessment," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 57(1), March.
    7. Arango, Santiago & Moxnes, Erling, 2012. "Commodity cycles, a function of market complexity? Extending the cobweb experiment," Journal of Economic Behavior & Organization, Elsevier, vol. 84(1), pages 321-334.
    8. Abdullah Yavas & C. Sirmans, 2005. "Real Options: Experimental Evidence," The Journal of Real Estate Finance and Economics, Springer, vol. 31(1), pages 27-52, August.
    9. Fiona MacPhail, 1998. "Moving Beyond Statistical Validity in Economics," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 45(1), pages 119-149, November.
    10. Lusk, Jayson L. & Norwood, F. Bailey, 2009. "Bridging the gap between laboratory experiments and naturally occurring markets: An inferred valuation method," Journal of Environmental Economics and Management, Elsevier, vol. 58(2), pages 236-250, September.
    11. Bergstrom, John C. & Stoll, John R., 1989. "Application Of Experimentatal Economics Concepts And Precepts To Cvm Field Survey Procedures," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 14(01), July.

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