Marette, Stéphan; Lusk, Jayson L.; Roosen, Jutta - In: Economics Bulletin 30 (2010) 2, pp. 1585-1593
-to-pay. First, a theoretical model shows that the size of the welfare variation is related to the elasticity of the demand under the … absence of information about a characteristic. Second, our estimates indicate that consumer demand from a laboratory auction … is more price-elastic than time-series demand for similar products. As a result, the welfare change directly derived from …