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

Sean P. Hurley and James B. Kliebenstein

No 22192, 2003 Annual meeting, July 27-30, Montreal, Canada from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: 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.

Keywords: Consumer/Household; Economics (search for similar items in EconPapers)
Pages: 26
Date: 2003
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea03:22192

DOI: 10.22004/ag.econ.22192

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