AgEcon Search

AgEcon Search >
       Journal of Food Distribution Research >
          Volume 40, Number 2, July 2009 >

Please use this identifier to cite or link to this item: http://purl.umn.edu/99790

Title: A Two-Step Auction in the Presence of Negative Values: An Application to “Farm-Raised” Pre-Cooked Roast Beef
Authors: Nalley, Lawton Lanier
Hudson, Darren
Issue Date: 2009-07
Abstract: Uniform auctions are commonly used to elicit willingness to pay for new or novel products, product attributes, or non-market goods. However, most auctions or other contingent-valuation techniques do not allow for negative values, despite the fact that many consumers hold negative values for these products or product attributes. We conducted a WTP auction for a new product along with a within-sample WTA second auction allowing for negative responses. We find that failing to allow for negative values significantly inflates willingness to pay estimates and estimates of expected market share. This paper provides a method of incorporating negative values into auctions and willingness to pay elicitation.
URI: http://purl.umn.edu/99790
Institution/Association: Journal of Food Distribution Research>Volume 40, Number 2, July 2009
Total Pages: 10
From Page: 47
To Page: 56
Collections:Volume 40, Number 2, July 2009

Files in This Item:

File Description SizeFormat
Application pg 47-56.pdf319KbPDFView/Open
Recommend this item

All items in AgEcon Search are protected by copyright.

 

 

Brought to you by the University of Minnesota Department of Applied Economics and the University of Minnesota Libraries with cooperation from the Agricultural and Applied Economics Association.

All papers are in Acrobat (.pdf) format. Get Adobe Reader

Contact Us

Powered by: