Are Country of Origin and Non-GM Premiums Invariant to Experimental Auction Structure?

Volinskiy, Dmitriy; Adamowicz, Wiktor L.; Veeman, Michele M.; Srivastava, Lorie

doi:10.22004/ag.econ.10378

Are Country of Origin and Non-GM Premiums Invariant to Experimental Auction Structure?

Volinskiy, Dmitriy ; Adamowicz, Wiktor L. ; Veeman, Michele M. ; Srivastava, Lorie

A revealed preference auction experiment is used to elicit values for two attributes, one relating to genetic modification and the other to country of origin of the food product, canola oil. A premium for a non-GM canola oil is found to approximate CA$0.4 to $0.6 per litre. Auction format effects are found and hypotheses as to why these may occur are suggested.

Keywords:

Willingness to pay ; incentive compatible ; Becker-DeGroot-Marschak auction procedure ; non-GM food ; country of origin ; canola oil

Subject(s):

Demand and Price Analysis

Issue Date:

2007

Publication Type:

Conference Paper/ Presentation

DOI and Other Identifiers:

10.22004/ag.econ.10378

Record Identifier:

https://ageconsearch.umn.edu/record/10378