Using Laboratory Experimental Auctions in Marketing Research: A case study of new packaging for fresh beef. Elizabeth Hoffman, Dale J. Menkahus, Dipankar Chakarvarta, Ray A. Field, Glen D. Whipple Marketing Science , 1993 Presented by Jong Min Kim. Introduction.
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Elizabeth Hoffman, Dale J. Menkahus, Dipankar Chakarvarta, Ray A. Field, Glen D. Whipple
Marketing Science, 1993
Presented by Jong Min Kim
Allow an endogenous revelation of the prices consumers are willing to pay
yield simultaneous estimates of the # of units of the product that may be sold
Data in lab. experimental auction pertain to actual purchases of the product
Bidding mechanism does not naturally mimic how consumers reveal preference
Correspondence between the theoretical incentive compatibility of an auction mechanism and actual participant behavior
Consumers engage strategic learning strategiesLaboratory Experimental Auction in Marketing Research
Improve the behavioral properties of theoretically incentive-compatibility auctions
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