Shogren, Jason F; List, John A; Hayes, Dermot J - In: American Journal of Agricultural Economics 82 (2000) 4, pp. 1016-21
This paper explores the origins of the strikingly high price premia paid for new food products in lab valuation exercises. Our experimental design distinguishes between two explanations of this phenomenon: novelty of the experimental experience versus the novelty of the good, i.e., preference...