Lusk, Jayson L; Schroeder, Ted C. - In: Advances in Economic Analysis & Policy 6 (2006) 1
valuations implied from choices. We also find that auction data imply own-price elasticities of demand for higher quality … made non-hypothetical discrete choices between five goods. Despite the fact that the choice task and auction mechanisms are … incentive compatible, we find that auction bids were significantly lower, as much as two times lower in many cases, than …