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| Registros recuperados: 29 | |
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| Rousu, Matthew C.; Beach, Robert H.; Corrigan, Jay R.. |
| Basic economic theory predicts that a consumer's willingness to pay for a good is affected by the presence of complements and substitutes. In an auction setting, this theory implies that the presence of complements would increase bid prices for a good, while the presence of substitutes would decrease bid prices for a good. However, several experimental auction studies have sold complementary or substitutable products without regard for the effects these actions could have on bidding behavior. Using data from an experimental auction specifically designed to test the effect of complements and substitutes on bids, we used both unconditional tests and conditional tests where we derived demand flexibilities to analyze whether selling complementary and... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Research Methods/ Statistical Methods. |
| Ano: 2005 |
URL: http://purl.umn.edu/19513 |
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| Lusk, Jayson L.; Alexander, Corinne E.; Rousu, Matthew C.. |
| Accurately estimating consumer demand for new products is an arduous task made even more difficult by the fact that individuals tend to overstate the amount they are willing to pay for new goods when asked hypothetical questions. Despite their appeal in eliminating hypothetical bias, marketers have been slow to adopt experimental auctions as a standard tool in pre-test market research. One issue that has slowed adoption of the methodology is the proliferation of auction mechanisms and the lack of clear guidance in choosing between mechanisms. In this paper, we provide insight into the theoretical properties of two incentive compatible value elicitation mechanisms, the BDM and Vickrey 2nd price auction, such that practitioners can make more informed... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Institutional and Behavioral Economics. |
| Ano: 2004 |
URL: http://purl.umn.edu/20202 |
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| Huffman, Wallace E.; Shogren, Jason F.; Rousu, Matthew C.; Tegene, Abebayehu. |
| With the continuing controversy over genetically modified (GM) foods, some groups advocate mandatory labeling of these products, while other groups oppose labeling. An important issue is how GM labels affect consumers' willingness to pay for these food products in the market. Using a statistically based economics experiment with adult consumers as subjects, we examine how willingness to pay changes for three food products--vegetable oil, tortilla chips, and potatoes--when GM labels are introduced. Participants in the experiments discounted GM-labeled foods by approximately 14% relative to their standard-labeled counterparts. The evidence also showed that sequencing of food labels affects willingness to pay, and that randomizing treatments is an important... |
| Tipo: Journal Article |
Palavras-chave: Consumer demand; Corn chips; Experimental economics; Food labels; Genetic modification; GM foods; Laboratory auctions; Potatoes; Vegetable oil; Willingness to pay; Consumer/Household Economics. |
| Ano: 2003 |
URL: http://purl.umn.edu/31071 |
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| Huffman, Wallace E.; Rousu, Matthew C.; Shogren, Jason F.; Tegene, Abebayehu. |
| To be effective, groups that disseminate information need the trust of consumers. When multiple groups provide conflicting information on a new product or process like GM-foods, consumers place different levels of trust in the various sources. We present a model of the contributions of personal and social capital of a consumer, and test a multinominal logit model of relative trust in five different sources of information on genetic modification using a unique data set. Among our findings is that an increase in consumer's education lowers the probability of trusting information from government, private industry/organizations, consumer and environmental groups, or other sources relative to information from an independent, third-party source, and... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Food Consumption/Nutrition/Food Safety; Research and Development/Tech Change/Emerging Technologies. |
| Ano: 2002 |
URL: http://purl.umn.edu/18205 |
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| Huffman, Wallace E.; Rousu, Matthew C.; Shogren, Jason F.; Tegene, Abebayehu. |
| This paper addressed the puzzling resistance of Presidents of southern African countries to food aid in 2002, given near certain starvation and long-term negative health effects of malnutrition of their constituents. First, I show that NGOs led by Greenpeace and Friends of the Earth are disseminating information claiming that GM foods are dangerous to human health and are "Frankenfoods." Second, people in European Union countries, who are not in any danger of starvation, have strong preferences for non-GM foods, which they can easily afford. Over the long term, however, the tastes of EU consumers matter to southern African countries because some of these countries hope to export agricultural products in the future. GM-food aid, which most likely would... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Food Consumption/Nutrition/Food Safety; Research and Development/Tech Change/Emerging Technologies. |
| Ano: 2003 |
URL: http://purl.umn.edu/18208 |
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| Huffman, Wallace E.; Rousu, Matthew C.; Shogren, Jason F.; Tegene, Abebayehu. |
| In many countries, including those in the European Union, Japan, Australia, and China, labeling is required for foods that contain genetically modified material. Other countries, including the United States, do not require mandatory labeling of GM foods. The United States, however, does allow firms to voluntarily label their products as non-GM. This raises the question of whether a mandatory labeling or voluntary labeling policy is more efficient. Proponents of voluntary labeling policies say they are less expensive, because only the firms that wish to label their products must incur the labeling costs. In a mandatory labeling regime, all firms would need to incur additional costs, whether the costs are due to product testing, label design,... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Food Consumption/Nutrition/Food Safety. |
| Ano: 2002 |
URL: http://purl.umn.edu/19857 |
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| Huffman, Wallace E.; Rousu, Matthew C.; Shogren, Jason F.; Tegene, Abebayehu. |
| In most environments, information is critical to consumers' decision making. Consumers have prior beliefs about quality and price of goods and services and obtain new information which is used to update these prior beliefs or to form posterior beliefs, i.e., Bayesian learning. New food products made from herbicide-tolerant and insect-resistant crops using bioengineering, have appeared in U.S. supermarkets starting in 1996. The objective of this paper is to examine in depth the role of consumer�s prior beliefs about genetic modification and of diverse, new information on their willingness to pay for foods that might be genetically modified. One hypothesis is that prior beliefs matter and, second, consumers give less weight to information from interested... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Food Consumption/Nutrition/Food Safety; Research and Development/Tech Change/Emerging Technologies. |
| Ano: 2004 |
URL: http://purl.umn.edu/18231 |
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| Huffman, Wallace E.; Rousu, Matthew C.; Shogren, Jason F.; Tegene, Abebayehu. |
| This paper examines the market characteristics that push consumers in high income countries to resist GM foods, with an emphasis on negative information from environmental groups and third-party, verifiable information. For this study, unique data were collected from adult consumers in the United States who participated in laboratory auctions of three food types with randomly assigned labeling and information treatments. Using U.S. consumers is important because U.S. consumers are generally supportive of GM foods and free from the BSE "food scare" fears and bias towards "natural" that are hypothesized to lead Europeans to reject GM foods. Key findings are that negative GM-product information supplied by environmental groups pushes some consumers out of... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Consumer/Household Economics. |
| Ano: 2003 |
URL: http://purl.umn.edu/25837 |
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| Registros recuperados: 29 | |
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