Experimental Auctions

'Lusk and Shogren have developed an indispensable guide to an important methodology that is growing in relevance and significance in economics, marketing, psychology and public policy research. Their book is both technically strong and very accessible, even for the non-specialist. The authors have filled the book with interesting and compelling examples that bring the method to life and demonstrate its applicability. Any scholar interested in understanding how individuals value non-market options should have this book on their shelf.' David W. Stewart, Robert E. Brooker Professor of Marketing, Marshall School of Business, University of Southern California
'These well-qualified authors provide a thorough treatise on the design and application of auction procedures as instruments for measuring the value of new or non-marketed commodities, rights and services - perhaps the most important development in experimental auctions since the first tests over 25 years ago.' Vernon L. Smith, winner of the 2002 Nobel Prize for Economics and Professor of Economics and Law, George Mason University
'The book is a comprehensive guide to the theory and practice of experimental auctions. It can be a useful source to graduate students, practitioners and researchers concerned with the design and application of experimental auctions in applied economics, psychology and marketing research. Each chapter contains valuable material drawn from the authors experience of working with experimental auctions. The authors explain underlying theories, discuss practical problems, present the current state of the knowledge on experimental auctions, and do all this in a manner designed to make the presented topics easy to understand and implement.' Zentralblatt MATH