This study compares a real choice experiment (RCE) with three commonly used experimental auction (EA) mechanisms (Becker–DeGroot–Marschak, random nth price auction (RNPA), second price auction (SPA)) to determine whether willingness to pay (WTP) estimates differ across these elicitation methods. We use quality labels on eggs as the empirical application and find that the SPA, RNPA and RCE yield similar WTP estimates, while the BDM mechanism generally produces higher WTP estimates. We also compare these EAs and the RCE in an induced value setting and find that the BDM auction produces greater deviations from the underlying value than the other EAs and RCE. We suggest that RCEs may be preferable to BDMs for collecting WTP estimates in logistically difficult experimental settings.

中文翻译：

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比较食物选择中的实验拍卖和真实选择实验：本土和诱导价值分析

本研究将真实选择实验（RCE）与三种常用的实验拍卖（EA）机制（Becker-DeGroot-Marschak、随机第n次价格拍卖（RNPA）、第二次价格拍卖（SPA））进行比较，以确定是否愿意支付（WTP） ）这些启发方法的估计有所不同。我们使用鸡蛋的质量标签作为实证应用，发现 SPA、RNPA 和 RCE 产生相似的 WTP 估计，而 BDM 机制通常产生更高的 WTP 估计。我们还在诱导价值设置中比较了这些 EA 和 RCE，发现 BDM 拍卖比其他 EA 和 RCE 与基础价值产生更大的偏差。我们认为，在后勤困难的实验环境中，RCE 可能比 BDM 更适合收集 WTP 估计值。