The role of reference prices in experimental auctions
Andreas Drichoutis (),
Panagiotis Lazaridis () and
Economics Letters, 2008, vol. 99, issue 3, 446-448
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.
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:99:y:2008:i:3:p:446-448
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