Program
1. Overview
- Overview, motivation, and valuation theory;
- WTP and WTA gap, induced value auctions, test theory;
- Contingent valuation and hypothetical bias: dichotomous choices, payment cards, etc..
- Calibration methods and cheap talk.
2. Auctions
- Auction theory: incentive compatibility;
- Econometric models for auction data;
- Empirical modeling of data from auctions;
- Experimental Auction case studies;
- Examples of Auctions (computerized);
- Auctions in practice/design issues (endowment vs full bidding, multiple rounds, multiple products, stochastic fees, sample size, bid affiliation, training, etc.);
- Hands-on programming auctions in ztree;
- Models for data analysis;
- Analysis of auction data;
- Class simulation;
- Summing up, questions and discussion;
3. Final test
- Presentation of participants' own project;
- Online questionnaire test
The detailed timetable will be made available to the enrolled participants.