We examined gender differences in bidding and learning behavior in Second Price Auctions (SPAs). Although bidding one’s true value is a weakly dominant strategy in SPAs, overbidding has been common and persistent in laboratory SPAs, i.e., bidding above one’s value. In our study, we found...

Purpose – As one of the most traded commodities in the world with tremendous economic significance, palm oil is an inexpensive source of oil. This paper examined and compared the palm oil trade performance of the Philippines relative to its top palm oil producing neighbors, Indonesia and...

We use two different experimental valuation methods to estimate consumer demand for genetically-modified golden rice. The first is an open-ended choice experiment (OECE) where participants name the quantities of golden rice and conventional rice demanded at each of several price combinations,...

The $4.7 billion acquisition of Smithfield Foods, Inc. by China's Shuanghui International Holdings Ltd. (now WH Group Ltd.) marks the largest Chinese takeover of a U.S. company in history. In this study, we explored how this acquisition affected consumers' willingness-to-pay for meat products in...

This paper proposes a density ratio estimator of crop yield distributions, wherein the number of observations for individual distributions is often quite small. The density ratio approach models individual densities as distortions from a common baseline density. We introduce a probability...

Several countries in Sub-Saharan Africa (SSA) embraced the structural adjustment programs (SAPs) suggested by the World Bank and the International Monetary Fund (IMF) in the 1980s. SAPs entail three main transitions: (1) from state control to market-led development; (2) from authoritarianism to...

Auctions are commonly used when a seller is unsure about the values that potential buyers attach to the object being sold. Bidders’ willingness to pay can be elicited in the form of bids. Many auctions are designed to be truth revealing such that bidders’ optimal strategy is to bid their...

We propose a flexible nonparametric density estimator for panel data. One possible areas of application is estimation of crop yield distributions whose data tend to be short panels from many geographical units. Taking into account the panel structure of the data can likely improve the efficiency...