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