Value Elicitation In Laboratory And Retail Environments
Author(s)
- John A Fox
- Jayson L Lusk
Full TextAbstract
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.