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.

By means of an extensive Monte Carlo simulation study based on the design of Chen and Hong (2012) we compare the performance of the tests they proposed for parameter stability with the linearity test of Li et al. (2002) and the functional form test of Li and Wang (1998). We find that the test...

We propose an empirical likelihood-based method of inference for comparing inequality between two populations. A series of Monte Carlo experiments are used to assess our method’s finite sample performance. We illustrate our approach using some Canadian household income data.