A TALE OF TWO PREMIUMS- EXAMINING BIDS FROM A MULTIPLE ROUND VICKREY AUCTION WITH DIFFERING INFORMATION SETS

Two definitions of willingness-to-pay derived from a Vickrey auction with multi-product and multiple rounds with different information sets are examined. These definitions are examined in the context of valuing pork products with embedded environmental attributes and we show how information can have adverse effects on a base product of comparison.


Issue Date:
2003
Publication Type:
Conference Paper/ Presentation
PURL Identifier:
http://purl.umn.edu/22192
Total Pages:
26
Series Statement:
Selected Paper




 Record created 2017-04-01, last modified 2017-08-24

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