Testing Whether Field Auction Experiments Are Demand Revealing in Practice
Recent evidence suggests that participants' misunderstanding of experimental auction mechanism can systematically bias auction results. We present a simple technique for testing whether field auction mechanism and, by extension, whether auction bids provide an unbiased estimate of participants' willingness to pay.
Corrigan, Jay R.; Rousu, Matthew C., Testing Whether Field Auction Experiments Are Demand Revealing in Practice, Journal of Agricultural and Resource Economics, Volume 33, Issue 2, August 2008, Pages 290-301
Share on twitter
Share on facebook