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

Norbert Wilsoon

No 180061, 2014 Annual Meeting, July 27-29, 2014, Minneapolis, Minnesota from Agricultural and Applied Economics Association

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.

Keywords: Agribusiness; Institutional and Behavioral Economics (search for similar items in EconPapers)
Pages: 46
Date: 2014-07-25
References: Add references at CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
https://ageconsearch.umn.edu/record/180061/files/C ... ilson%20Revision.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea14:180061

DOI: 10.22004/ag.econ.180061

Access Statistics for this paper

More papers in 2014 Annual Meeting, July 27-29, 2014, Minneapolis, Minnesota from Agricultural and Applied Economics Association Contact information at EDIRC.
Bibliographic data for series maintained by AgEcon Search ().