Hypothetical versus real payments in Vickrey auctions

• We compare hypothetical and real payments in a Vickrey auction. The use of hypothetical payments overestimates the real willingness to pay. The results cast doubt on the validity of hypothetical willingness to pay questions for the typical respondent.

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MEDICIN OCH HÄLSOVETENSKAP  -- Hälsovetenskap -- Hälso- och sjukvårdsorganisation, hälsopolitik och hälsoekonomi (hsv//swe)

MEDICAL AND HEALTH SCIENCES  -- Health Sciences -- Health Care Service and Management, Health Policy and Services and Health Economy (hsv//eng)

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