Hypothetical versus real payments in Vickrey auctions

Karen Blumenschein, Magnus Johannesson, Glenn C. Blomquist, Bengt Liljas, Richard M. O'Conor

Research output: Contribution to journalArticlepeer-review

29 Scopus citations


We compare hypothetical and real payments in a Vickrey auction. The use of hypothetical payments overestimates the real willingness to pay. The results cast doubt on the validity of hypothetical willingness to pay questions for the typical respondent.

Original languageEnglish
Pages (from-to)177-180
Number of pages4
JournalEconomics Letters
Issue number2
StatePublished - Oct 17 1997


  • Willingness to pay Auctions Contingent valuation C91 D61

ASJC Scopus subject areas

  • Finance
  • Economics and Econometrics


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