Akaichi, Faical; Nayga Jr., Rodolfo M.; Gil, Jose Maria - Agricultural and Applied Economics Association - AAEA - 2011
We report the result of experiments designed to assess the effect of initial endowments on willingness to pay values elicited from multi-unit Vickrey auctions. Comparing bids from an “endow and upgrade” approach with the “full bidding” approach, we find that the direction of the...