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| Bernard, John C.; Zhang, Chao; Gifford, Katie. |
| This research compared bids that consumers placed on non genetically modified (GM), organic, and conventional versions of food products in order to determine if the organic market well serves those seeking to avoid GM foods. Auction experiments using potato chips, tortilla chips, and milk chocolate were conducted with 79 subjects. Bids were modeled as a function of consumer demographics using a heteroskedastic tobit regression model. Results with the non-GM attribute nested into the organic characteristic showed that the latter's marginal effects were insignificant. This suggested the potential to further develop non-GM products for consumers not willing to pay extra for the remaining organic attributes. |
| Tipo: Journal Article |
Palavras-chave: Auction experiments; GM foods; Organic foods; Willingness to pay; Demand and Price Analysis. |
| Ano: 2006 |
URL: http://purl.umn.edu/10226 |
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| Bernard, John C.; He, Na. |
| Auction experiments are commonly used to determine consumers’ willingness to pay for various food items. While their non-hypothetical nature is a positive, market substitutes create a probable confounding of bids by field prices. This study examines the influence of field prices on bids for four foods in two versions by conducting auctions before and after large price increases in 2007. Results show that bids were capped at given field prices and were significantly higher in sessions conducted after store prices increased. Percentage premiums, however, were not significantly different across sessions, suggesting that effects of field prices could be reduced. Overall, researchers must be conscious of how field prices affect bids. |
| Tipo: Journal Article |
Palavras-chave: Auction experiments; Field prices; Organic; Bidding; Consumer/Household Economics; Institutional and Behavioral Economics; Marketing. |
| Ano: 2010 |
URL: http://purl.umn.edu/90823 |
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| Dickinson, David L.; Bailey, DeeVon. |
| We employed Vickrey auctions to generate willingness-to-pay (WTP) data for red meat traceability and related product characteristics with comparable experimental auctions in the United States, Canada, the U.K., and Japan. The results show that subjects are willing to pay a nontrivial premium for traceability, but the same subjects show even higher WTP for traceability-provided characteristics like additional meat safety and humane animal treatment guarantees. The implication is that producers might be able to implement traceable meat systems profitably by tailoring the verifiable characteristics of the product to consumer preferences. |
| Tipo: Journal Article |
Palavras-chave: Auction experiments; Information; Red meat; Traceability; C90; D44; D80. |
| Ano: 2005 |
URL: http://purl.umn.edu/43480 |
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