Abstract
Nonhypothetical experimental auctions are used to elicit willingness to pay for humane animal care-certified dairy products: cheese and ice cream. We use second-price, random Nth-price, and incremental second-price auctions in multiproduct, multiquantity, and multiround contexts. The results contrast participants' bids across different auction mechanisms and different products. Differences in bidding patterns are detected across auction mechanisms as well as products. Our results suggest that subjects on average are only willing to pay a premium price for one unit of humane animal case-certified ice cream but not for multiple quantities.
| Original language | English |
|---|---|
| Pages (from-to) | 417-438 |
| Number of pages | 22 |
| Journal | Canadian Journal of Agricultural Economics |
| Volume | 61 |
| Issue number | 3 |
| DOIs | |
| Publication status | Published - 2013 Sept |
ASJC Scopus subject areas
- Global and Planetary Change
- Ecology
- Animal Science and Zoology
- Agronomy and Crop Science
- Economics and Econometrics