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Polarized Preferences In Homegrown Value Auctions AgEcon
Hurley, Terrance M.; Yue, Chengyan; Anderson, Neil O..
Incentive compatible auction experiments, often referred to as homegrown value auctions, have become a popular tool for exploring how controversial product attributes and knowledge of these attributes affect consumer willingness to pay. A common observation in these experiments is a prevalence of zero bids and bimodal bid distributions. One possible explanation is that individuals have polarized preferences: find all products with a particular attribute desirable (positive polarization) or undesirable (negative polarization). The purpose of this paper is to explore three questions. Do polarized preferences exist? If they do exist, can they be identified? If they can be identified, does their identification provide useful information? To answer these...
Tipo: Conference Paper or Presentation Palavras-chave: Experiment; Auctions; Polarized Preferences; Invasive Plants; Homegrown Values; Demand and Price Analysis; Environmental Economics and Policy; Research Methods/ Statistical Methods; D01; C18; C19; Q13.
Ano: 2011 URL: http://purl.umn.edu/103596
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Do Native and Invasive Labels Affect Consumer Willingness to Pay for Plants? Evidence from Experimental Auctions AgEcon
Yue, Chengyan; Hurley, Terrance M.; Anderson, Neil O..
The ultimate objective of commercial horticultural activities is to satisfy the needs of the final consumer. Consumer demand for novel plants drives the ornamental plant industry. Therefore, dispersal of native and invasive horticultural plants can be understood by considering the decisions/choices of consumers who decide which plants to purchase from retailers. In contrast to previous studies on invasive and native plants, this study uses an experimental auction to elicit consumers’ willingness to pay (WTP) for labeled native and invasive attributes. Results from a censored random effect model show that consumers’ WTP for plants decreases when the plants are labeled as invasive and increases when plants are labeled as native. The study finds that...
Tipo: Conference Paper or Presentation Palavras-chave: Native plants; Invasive plants; Willingness to pay; Labeling; Auction; Marketing; Consumer/Household Economics; Demand and Price Analysis.
Ano: 2009 URL: http://purl.umn.edu/49212
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