A Rose by Another Name:  An Objective Analysis of an Established Market for Credence Attributes

Galloway, Kristin; Bailey, DeeVon

doi:10.22004/ag.econ.19493

A Rose by Another Name: An Objective Analysis of an Established Market for Credence Attributes

A second-price Vickrey-style auction is used to determine the willingness to pay (WTP) for credence attributes found in "cause" coffees. WTP estimates were then compared with actual market price information. The results indicate positive average bids for the cause coffees. However, premiums were found for fair-trade and shade-grown coffee in the actual price data and discounts for organic and sustainable coffee.

Subject(s):

Marketing

Issue Date:

2005

Publication Type:

Conference Paper/ Presentation

DOI and Other Identifiers:

10.22004/ag.econ.19493

Record Identifier:

https://ageconsearch.umn.edu/record/19493

PURL Identifier:

http://purl.umn.edu/19493