Should students be used as subjects in experimental auctions?

We examine the bidding behavior of students and non-students in experimental auctions by comparing their willingness to pay (WTP) values for a good. Our results suggest that there is no significant difference between the WTP bids of the two groups.

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Bibliographic Details
Published in:Economics letters 2009-02, Vol.102 (2), p.122-124
Main Authors: Depositario, Dinah Pura T, Nayga, Rodolfo M., Jr, Wu, Ximing, Laude, Tiffany P
Format: Article
Language:English
Subjects:
Auctions
Auktion
Bidding
Comparative analysis
Experiment
Experimental auction
Experimental economics
Lab experiment
Lab experiment Experimental auction Student subjects Non-student subjects Willingness to pay
Non-student subjects
Student
Student subjects
Students
Test
Willingness to pay
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Description
Summary:We examine the bidding behavior of students and non-students in experimental auctions by comparing their willingness to pay (WTP) values for a good. Our results suggest that there is no significant difference between the WTP bids of the two groups.
ISSN:0165-1765
1873-7374
DOI:10.1016/j.econlet.2008.11.018