The role of reference prices in experimental auctions

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

Research output: Contribution to journalArticle

39 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 languageEnglish
Pages (from-to)446-448
Number of pages3
JournalEconomics Letters
Volume99
Issue number3
DOIs
Publication statusPublished - 2008 Jun 1
Externally publishedYes

Fingerprint

Reference price
Experimental auctions
Willingness-to-pay
Vickrey auction
Bid

Keywords

  • Experimental auctions
  • Reference price
  • Vickrey auction
  • Willingness to pay

ASJC Scopus subject areas

  • Economics and Econometrics
  • Finance

Cite this

Drichoutis, A. C., Lazaridis, P., & Nayga, Jr, R. M. (2008). The role of reference prices in experimental auctions. Economics Letters, 99(3), 446-448. https://doi.org/10.1016/j.econlet.2007.09.010

The role of reference prices in experimental auctions. / Drichoutis, Andreas C.; Lazaridis, Panagiotis; Nayga, Jr, Rodolfo M.

In: Economics Letters, Vol. 99, No. 3, 01.06.2008, p. 446-448.

Research output: Contribution to journalArticle

Drichoutis, AC, Lazaridis, P & Nayga, Jr, RM 2008, 'The role of reference prices in experimental auctions', Economics Letters, vol. 99, no. 3, pp. 446-448. https://doi.org/10.1016/j.econlet.2007.09.010
Drichoutis, Andreas C. ; Lazaridis, Panagiotis ; Nayga, Jr, Rodolfo M. / The role of reference prices in experimental auctions. In: Economics Letters. 2008 ; Vol. 99, No. 3. pp. 446-448.
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