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Experimental Auctions: Methods and Applications in Economic and Marketing Research

Experimental Auctions: Methods and Applications in Economic and Marketing Research

Jayson L. Lusk
4.5/5 ( ratings)
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Economists, psychologists, and marketers are interested in determining the monetary value people place on non-market goods for a variety of reasons: to carry out cost-benefit analysis, to determine the welfare effects of technological innovation or public policy, to forecast new product success, and to understand individual and consumer behavior. Unfortunately, many currently available techniques for eliciting individuals' values suffer from a serious problem in that they involve asking individuals hypothetical questions about intended behavior. Experimental auctions circumvent this problem because they involve individuals exchanging real money for real goods in an active market. This represents a promising means for eliciting non-market values. Lusk and Shogren provide a comprehensive guide to the theory and practice of experimental auctions. It will be a valuable resource to graduate students, practitioners and researchers concerned with the design and utilization of experimental auctions in applied economic and marketing research.
Language
English
Pages
316
Format
Hardcover
Publisher
Cambridge University Press
Release
July 01, 2007
ISBN
0521855160
ISBN 13
9780521855167

Experimental Auctions: Methods and Applications in Economic and Marketing Research

Jayson L. Lusk
4.5/5 ( ratings)
Read Download
Economists, psychologists, and marketers are interested in determining the monetary value people place on non-market goods for a variety of reasons: to carry out cost-benefit analysis, to determine the welfare effects of technological innovation or public policy, to forecast new product success, and to understand individual and consumer behavior. Unfortunately, many currently available techniques for eliciting individuals' values suffer from a serious problem in that they involve asking individuals hypothetical questions about intended behavior. Experimental auctions circumvent this problem because they involve individuals exchanging real money for real goods in an active market. This represents a promising means for eliciting non-market values. Lusk and Shogren provide a comprehensive guide to the theory and practice of experimental auctions. It will be a valuable resource to graduate students, practitioners and researchers concerned with the design and utilization of experimental auctions in applied economic and marketing research.
Language
English
Pages
316
Format
Hardcover
Publisher
Cambridge University Press
Release
July 01, 2007
ISBN
0521855160
ISBN 13
9780521855167

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