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Titolo:
Alternative calibration and auction institutions for predicting consumer willingness to pay for nongenetically modified corn chips
Autore:
Lusk, JL; Daniel, MS; Mark, DR; Lusk, CL;
Indirizzi:
Mississippi State Univ, Dept Agr Econ, Mississippi State, MS 39762 USA Mississippi State Univ Mississippi State MS USA 39762 State, MS 39762 USA Mississippi State Univ, Agribusiness Inst, Mississippi State, MS 39762 USAMississippi State Univ Mississippi State MS USA 39762 State, MS 39762 USA
Titolo Testata:
JOURNAL OF AGRICULTURAL AND RESOURCE ECONOMICS
fascicolo: 1, volume: 26, anno: 2001,
pagine: 40 - 57
SICI:
1068-5502(200107)26:1<40:ACAAIF>2.0.ZU;2-V
Fonte:
ISI
Lingua:
ENG
Soggetto:
CONTINGENT VALUATION; HYPOTHETICAL SURVEYS; FOOD SAFETY; VALUES; MARKETS; GOODS; INFORMATION; 2ND-PRICE; BEHAVIOR; DESIGN;
Keywords:
calibration; consumer demand; experimental auctions; genetically modified foods; GMO; willingness to pay;
Tipo documento:
Article
Natura:
Periodico
Settore Disciplinare:
Agriculture,Biology & Environmental Sciences
Social & Behavioral Sciences
Citazioni:
49
Recensione:
Indirizzi per estratti:
Indirizzo: Lusk, JL Mississippi State Univ, Dept Agr Econ, Mississippi State, MS 39762 USA Mississippi State Univ Mississippi State MS USA 39762 39762 USA
Citazione:
J.L. Lusk et al., "Alternative calibration and auction institutions for predicting consumer willingness to pay for nongenetically modified corn chips", J AGR RESOU, 26(1), 2001, pp. 40-57

Abstract

This study explores two important issues in experimental economics: calibration and auction institution. Consumer willingness-to-pay bids for com chips made with nongenetically modified ingredients are elicited in first- andsecond-price auctions. Results suggest that responses to scale-differential questions, elicited in a survey, accurately predicted consumer willingness-to-pay bids. While the second-price auction induced a greater percentage of marginal bidders to offer a positive bid compared to the first-price auction, average bid levels in the first- and second-price auctions were not statistically different from one other. In a small and unrepresentative sample, 70% of student participants were unwilling to pay to exchange a bag of chips made from genetically modified ingredients for a bag of chips made from nongenetically modified ingredients. However, 20% of respondents were willing to pay at least $0.25/oz. for the exchange.

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Documento generato il 10/07/20 alle ore 15:55:23