Hello and welcome!

I am student at the Technical University of Munich (TUM). As part of my thesis, I’m conducting a study to understand the influence of ecolabel on consumers’ clothing preferences.
The study will take approximately 4 minutes to complete.

The data collected is purely for educational purposes and will be made anonymous and reported in aggregated form.

Participation in the study is voluntary, and you are free to withdraw from the study at any point in time. Please read all questions carefully and answer them as honestly as possible. If you have any questions about this survey, don’t hesitate to contact me via [email protected]

I have read and understood the above information about this study and my participation, and I consent to participate. (Proceed)

I do not consent to take part. (Exit)

About this experiment

You will be asked for the maximum price you are willing to pay for a t-shirt. Among all participants, we will randomly draw 1 participants who will then actually get the chance to purchase a t-shirt.

We will use the following procedure. We will randomly draw a price. If the price we draw is less than or equal to the price you named, you can purchase the t-shirt for the price we have drawn (thus, the maximum amount you would have to pay is the price you told us). If the drawn price is greater than the price you named, you cannot purchase the t-shirt.

This procedure ensures that it is best for you to truthfully tell us the maximum price you are willing to pay for the t-shirt. If you tell us a price that is higher than the price you are willing to pay, you may actually have to pay that higher price. If you tell us a price that is lower than the price you are willing to pay, you will not be able to purchase the t-shirt although the “real” price you were willing to pay was higher. Note that the price you tell us will have no effect on the actual purchase price, as the purchase price will be drawn randomly.

Pricing procedure

Imagine you’re at a market. You’re asked to state the price on a basket of fresh fruits. You decide on the highest price you’re willing to pay for it. But here’s the twist: the actual price of the basket is a reserve price and will be revealed only after all responses have been collected. If the price you gave is higher than or equal to the reserve price, you get to buy the basket at the reserve price. If your price is lower, you don’t get the basket.

Example

Let’s say you state a price of $10 for the basket of fruits. After collecting all responses, the reserve price is revealed to be $8. Since the price you stated is higher, you get the basket but you only pay $8 instead of $10. If the reserve price is revealed to be $12, you wouldn’t get the basket because your stated price was lower.

On the next page, you will be presented with a demo to better understand the procedure. After that, you will be taken to the actual experiment.

Next, you will see a product page for a premium t-shirt. You have the opportunity to purchase this t-shirt in your preferred size and color. However, you will set the maximum price you’re prepared to pay for it. We’ll randomly select a participant who will have the opportunity to purchase the t-shirt. If selected, you’ll be able to purchase the t-shirt at a price equal to or less than your stated price. Please review the listing on the next page carefully and think about the maximum price you are willing to pay for it.

Thank you for participating in this study!

Please share your feedback, suggestions, or any issues you encountered during the survey. Your input is greatly appreciated.