Do auctions lower WTP estimates? An artefactual field experiment
| Author(s) | Wu, Shang | |
| Date Accessioned | 2014-02-20T17:27:11Z | |
| Date Available | 2014-02-20T17:27:11Z | |
| Publication Date | 2013 | |
| Abstract | This study compares the willingness to pay (WTP) estimates for a jar of honey from a second price Vickrey auction to the Posted Price setting (also known as the dichotomous choice, or the take-it-or-leave-it) with 115 adult participants. Consumers‘ WTP are about 50% lower in the auction compared to the Posted Price. Several potential explanations are proposed for the difference. | en_US |
| Advisor | Messer, Kent Donald | |
| Degree | M.S. | |
| Department | University of Delaware, Department of Agricultural and Resource Economics | |
| Sponsor | Northeast Center for Risk Management Education | en_US |
| URL | http://udspace.udel.edu/handle/19716/12876 | |
| Publisher | University of Delaware | en_US |
| dc.subject.lcsh | Honey -- Prices. | |
| dc.subject.lcsh | Willingness to pay. | |
| dc.subject.lcsh | Auctions. | |
| Title | Do auctions lower WTP estimates? An artefactual field experiment | en_US |
| Type | Thesis | en_US |