We examine the role of reference prices (field prices) in willingness to pay studies involving experimental auctions. Using a 2nd price Vickrey auction, we find that provision of reference prices increases bid values.

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.

In spite of a growing body of literature studying the determinants of children's obesity, relatively little is known about the association between parental nutritional label use and children's body weight. To bridge this gap, this study examines the effect of mother's nutritional label use on...

We add to the analysis conducted in an article in this journal authored by Caporale, Georgellis, Tsitsianis, and Yin (2009) (hereafter CGTY) which assessed the relationship between subjective well-being, income and relative income in Europe. Specifically, we note some data management,...

This article contributes to the research agenda of accommodating psychological insights in conventional lab experiments. We specifically test whether inducing subjects into different mood states has a significant effect on subjects’ rationality (in the form of preference reversals) and on...

type="main" <p><b>We assessed the consumer welfare effects of two generic food miles labels: “carbon dioxide (CO₂) emission” label and “time and number of kilometers” label. Using data from a choice experiment, our results generally suggest that a mandatory labeling policy for either type of...</b></p>

Choice experiments and experimental auctions have become popular mechanisms for estimating willingness to pay (WTP). However, these methods have primarily been used for estimating WTP for single units of goods. We analyze the results from experimental auctions and choice experiments in the...