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ASSESSING CONSUMERS’ WILLINGNESS TO PAY FOR DIFFERENT UNITS OF ORGANIC MILK: EVIDENCE FROM MULTI-UNIT AUCTIONS AgEcon
Akaichi, Faiçal; Gil, Jose Maria; Nayga, Rodolfo M., Jr..
Replaced with revised version of paper 06/28/10
Tipo: Conference Paper or Presentation Palavras-chave: Multi-unit Vickrey auctions; Organic milk; Information; Agribusiness; Consumer/Household Economics; Demand and Price Analysis; Marketing; Research Methods/ Statistical Methods; C91; D44.
Ano: 2009 URL: http://purl.umn.edu/60982
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Initial Endowment Effects in Multi-Unit Vickrey Auctions AgEcon
Akaichi, Faiçal; Nayga, Rodolfo M., Jr.; Gil, Jose Maria.
We report the result of experiments designed to assess the effect of initial endowments on willingness to pay values elicited from multi-unit Vickrey auctions. Comparing bids from an “endow and upgrade” approach with the “full bidding” approach, we find that the direction of the endowment effect generally depends on the number of endowed units of the conventional product that subjects are willing to give up in exchange for units of the upgraded product. The endowment effect is “reverse” when the number of units that participants are willing to give up is lower or equal to the number of remaining endowed units. However, we generally find an endowment effect when the number of units a participant is willing to give up is higher than the number of remaining...
Tipo: Conference Paper or Presentation Palavras-chave: Endowment effect; Number of units of the endowed product; Multi-unit Vickrey auctions.; Agribusiness; Research Methods/ Statistical Methods; Teaching/Communication/Extension/Profession; C91; D12; D44.
Ano: 2011 URL: http://purl.umn.edu/103041
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On the Use of Multi-Unit Auctions in Measuring Consumers’ Willingness to Pay for Food Products AgEcon
Akaichi, Faiçal; Nayga, Rodolfo M., Jr.; Gil, Jose Maria.
This paper proposes the use of multi-unit auctions in studying consumers’ willingness to pay (WTP) for food products in a multi-unit shopping scenario. We show how this method can overcome the limitations of single-unit experimental auctions in obtaining useful information related to WTP for not just the first unit but also subsequent units of a product, the demand curve, consumer surplus, the determinants of consumers’ WTP for each auctioned unit, and the effect of potential price discount strategies.
Tipo: Conference Paper or Presentation Palavras-chave: Multi-unit auctions; Willingness to pay; Demand curve; Consumer surplus; Price discounts.; Agribusiness; Consumer/Household Economics; Marketing; Research Methods/ Statistical Methods; C91; D12; D44; M31.
Ano: 2010 URL: http://purl.umn.edu/60983
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Factors Explaining the Consumers' Willingness-to-Pay for a "Typical" Food Product in Spain: Evidence from Experimental Auctions AgEcon
Akaichi, Faiçal; Gil, Jose Maria.
A random nth price experimental auction is used to elicit the willingness to pay (WTP) a premium for the locally produced and high quality white bean "Mongeta Ganxet" (MG) (Catalonia - Spain). Moreover, we are interested in testing the effect on the WTP of providing different pieces of information to participants. Results indicate that the provision of information on organoleptic, nutritional and cooking characteristics of the MG as well as their tasting has increased participants' WTP. Also, providing reference prices of substitutive products (both conventional and alternative high quality white beans) positively stimulates the premium participants are willing to pay for the MG. Finally, the level of consumption, the degree of knowledge about the product...
Tipo: Conference Paper or Presentation Palavras-chave: Willingness to pay; Random nth price auction; Mongeta Ganxet; Agribusiness; Agricultural and Food Policy; Consumer/Household Economics; Demand and Price Analysis; Marketing; Q13.
Ano: 2008 URL: http://purl.umn.edu/50107
Registros recuperados: 4
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