The role of reference prices in experimental auctions

Andreas C. Drichoutis; Panagiotis Lazaridis; Rodolfo M. Nayga

doi:10.1016/j.econlet.2007.09.010

The role of reference prices in experimental auctions

Andreas C. Drichoutis, Panagiotis Lazaridis, Rodolfo M. Nayga

Department of Food and Resource Economics

Research output: Contribution to journal › Article › peer-review

45 Citations (Scopus)

Abstract

We examine the role of reference prices (field prices) in willingness to pay studies involving experimental auctions. Using a 2nd price Vickrey auction, we find that provision of reference prices increases bid values.

Original language	English
Pages (from-to)	446-448
Number of pages	3
Journal	Economics Letters
Volume	99
Issue number	3
DOIs	https://doi.org/10.1016/j.econlet.2007.09.010
Publication status	Published - 2008 Jun

Keywords

Experimental auctions
Reference price
Vickrey auction
Willingness to pay

ASJC Scopus subject areas

Finance
Economics and Econometrics

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10.1016/j.econlet.2007.09.010

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title = "The role of reference prices in experimental auctions",

abstract = "We examine the role of reference prices (field prices) in willingness to pay studies involving experimental auctions. Using a 2nd price Vickrey auction, we find that provision of reference prices increases bid values.",

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year = "2008",

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KW - Reference price

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KW - Willingness to pay

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VL - 99

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JO - Economics Letters

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The role of reference prices in experimental auctions

Abstract

Keywords

ASJC Scopus subject areas

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