Hypothetical versus real payments in Vickrey auctions
Author/Authors :
Karen Blumenschein، نويسنده , , Magnus Johannesson، نويسنده , , Glenn C. Blomquist، نويسنده , , Bengt Liljas، نويسنده , , Richard M. OʹConor، نويسنده ,
Issue Information :
روزنامه با شماره پیاپی سال 1997
Pages :
4
From page :
177
To page :
180
Abstract :
We compare hypothetical and real payments in a Vickrey auction. The use of hypothetical payments overestimates the real willingness to pay. The results cast doubt on the validity of hypothetical willingness to pay questions for the typical respondent
Keywords :
Willingness to pay , auctions , Contingent valuation
