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When Higher Quality Does Not Translate to Higher Prices: A Case of Quality and Specialty Coffees from the Cup of Excellence Auctions
Wilsoon, Norbert
2014
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Abstract

This study investigates the Cup of Excellence coffee auctions and explains with behavioral economics observed intransitives in choice sets. Buyers are selecting lower quality coffees and paying higher prices for these coffees because they receive a higher rank. The estimates suggest that the representativeness and the framing heuristics explain the price premium for higher ranked coffees.

Details

Title
When Higher Quality Does Not Translate to Higher Prices: A Case of Quality and Specialty Coffees from the Cup of Excellence Auctions
Keywords
Author(s)
Wilsoon, Norbert
Subject(s)
Issue Date
Jul 25 2014
Publication Type
Conference Paper/ Presentation
DOI and Other Identifiers
10.22004/ag.econ.180061
Record Identifier
https://ageconsearch.umn.edu/record/180061
PURL Identifier
http://purl.umn.edu/180061
Language
English
Total Pages
46
JEL Codes
Q13
D44
C24
Note
This paper is a revised version of the earlier submitted paper.
Record Appears in
Agricultural and Applied Economics Association (AAEA) > Agricultural and Applied Economics Association (AAEA) Conferences > 2014 Annual Meeting, July 27-29, 2014, Minneapolis, Minnesota

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