WTP and WTA in competitive and non-competitive environments

WTP and WTA in competitive and non-competitive environments

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Theoretical equivalence exists among various auction mechanisms, specifically the Second-Price-Auction (SPA), a competitive environment, and the BDM mechanism, a non-competitive environment. Yet, empirical studies suggest that behavior in these mechanisms may diverge. Our experimental study examines...

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Bibliographic Details
Main Authors: Shosh Shahrabani, Uri Benzion, Tal Shavit
Format: Article
Language:English
Published: Cambridge University Press 2008-02-01
Series:Judgment and Decision Making
Subjects:
WTA
WTP
competitiveness
auction
lotteries.NAKeywords
Online Access:http://journal.sjdm.org/jdm7416.pdf

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