This article investigates the weakly dominant strategy in Vickrey auctions when substitutes are available in the market. We find that it is optimal for the consumers to shade their bids so that they obtain at least the same surplus from the auction as they would from the market. For products...

During the last decade, experimental auctions and stated choice (SC) surveys have been widely used to study food demand. These methods have complementary strengths and weaknesses. Experimental auctions are limited by the availability of products and the use of locally recruited participants,...