Hypothetical versus real payments in Vickrey auctions

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

doi:10.1016/s0165-1765(97)81897-6

Hypothetical versus real payments in Vickrey auctions

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

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

29 Scopus citations

Abstract

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 language	English
Pages (from-to)	177-180
Number of pages	4
Journal	Economics Letters
Volume	56
Issue number	2
DOIs	https://doi.org/10.1016/s0165-1765(97)81897-6
State	Published - Oct 17 1997

Keywords

Willingness to pay Auctions Contingent valuation C91 D61

ASJC Scopus subject areas

Finance
Economics and Econometrics

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10.1016/s0165-1765(97)81897-6

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title = "Hypothetical versus real payments in Vickrey auctions",

abstract = "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.",

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AU - O'Conor, Richard M.

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Hypothetical versus real payments in Vickrey auctions

Abstract

Keywords

ASJC Scopus subject areas

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