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Item Details
Title: EXPERIMENTAL AUCTIONS
METHODS AND APPLICATIONS IN ECONOMIC AND MARKETING RESEARCH
By: Jayson L. Lusk, Jason F. Shogren
Format: Paperback

List price: £36.99
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ISBN 10: 0521671248
ISBN 13: 9780521671248
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Publisher: CAMBRIDGE UNIVERSITY PRESS
Pub. date: 8 November, 2007
Series: Quantitative Methods for Applied Economics and Business Research
Pages: 316
Description: A comprehensive guide to the theory and practice of experimental auctions.
Synopsis: Economists, psychologists, and marketers are interested in determining the monetary value people place on non-market goods for a variety of reasons: to carry out cost-benefit analysis, to determine the welfare effects of technological innovation or public policy, to forecast new product success, and to understand individual and consumer behavior. Unfortunately, many currently available techniques for eliciting individuals' values suffer from a serious problem in that they involve asking individuals hypothetical questions about intended behavior. Experimental auctions circumvent this problem because they involve individuals exchanging real money for real goods in an active market. This represents a promising means for eliciting non-market values. Lusk and Shogren provide a comprehensive guide to the theory and practice of experimental auctions. It will be a valuable resource to graduate students, practitioners and researchers concerned with the design and utilization of experimental auctions in applied economic and marketing research.
Illustrations: 14 b/w illus. 59 tables
Publication: UK
Imprint: Cambridge University Press
Returns: Returnable
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