Value elicitation in retail and laboratory environments

Jayson L. Lusk, John A. Fox

Research output: Contribution to journalArticlepeer-review

Abstract

An increasing number of studies have begun conducting economic experiments in field, rather than laboratory settings. We directly compare results from laboratory and field valuation experiments. After controlling for unengaged bidders, results indicate field valuations were greater than laboratory valuations. Results are discussed in the context of recent literature on commitment costs.

Original languageEnglish (US)
Pages (from-to)27-34
Number of pages8
JournalEconomics Letters
Volume79
Issue number1
DOIs
StatePublished - Apr 1 2003
Externally publishedYes

Keywords

  • Experimental economics
  • Field experiment
  • Lab experiment
  • Valuation
  • Willingness-to-pay

ASJC Scopus subject areas

  • Finance
  • Economics and Econometrics

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