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Abstract
This study investigates the effect of the revelation of posted bids in second-price
experimental auctions for apple quality attributes under the experimental design
where information is added progressively across rounds. We find that the revelation of
posted bids does not bias the following bids and that increased information about the
apple increases the accuracy of participants’ following bids. Therefore, the final round
bids are used to evaluate consumers’ willingness to pay for the apple attributes of
interest in this study. Consumers are found to prefer large, firm, sweet, crisp and less
defects coverage apples.