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.