Using Laboratory Experimental Auctions in Marketing Research: A Case Study of New Packaging for Fresh Beef

Autor:	Dipankar Chakravarti, Dale J. Menkhaus, Elizabeth Hoffman, Ray A. Field, Glen D. Whipple
Rok vydání:	1993
Předmět:	Marketing Market research auctions pretest market Management science business.industry Incentive compatibility Economics TheoryofComputation_GENERAL Common value auction Business and International Management Marketing research business
Zdroj:	Marketing Science. 12:318-338
ISSN:	1526-548X 0732-2399
DOI:	10.1287/mksc.12.3.318
Popis:	This paper illustrates the use of laboratory experimental auctions in a pretest market research program for new products. We review the experimental auctions literature, discuss the range of auction mechanisms available and present the advantages and disadvantages of using a particular mechanism for a laboratory pretest market. We then present a step-by-step example of how a theoretically incentive compatible auction mechanism (fifth-price, sealed-bid) was used in a laboratory pretest market for vacuum-packaged beef. Based on the illustration, we discuss the potential for using laboratory experimental auctions in pretest market research. We present the limitations that may be encountered in such applications and outline research aimed at improving the behavioral properties of the technique.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_dedup___::3cb96b0a572cc614cd1a0d0816905470 https://doi.org/10.1287/mksc.12.3.318 Zobrazit plný text záznamu Plný text ve formátu PDF