Hayes, D.J., J.B. Kliebenstein, J.F. Shogren, and J.A. Fox. "Economics of Food Safety," Proceedings of Food Safety Consortium Annual Meeting, Kansas City, MO, Oct. 25-26, 1995, pp. 73-74.

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A research study explored a version of economist W. Vickrey's second-price, sealed-bid auction used for the valuation of nonmarket goods. The sensitivity of revealed values generated by this variation were examined. A standard second-price auction with repeated market trials was compared to a...

Experimental auctions were used to examine the effects of alternative descriptions of food irradiation on willingness-to-pay for a pork sandwich irradiated to control Trichinella. As expected, a favorable description of irradiation increased willingness-to-pay, and an unfavorable description...

Experimental auction markets were designed and used to investigate consumer preferences for sandwiches produced with meat from pigs treated with porcine somatotropin. A second-price, sealed-bid auction procedure was used to determine willingness to pay to exchange a pork loin sandwich with...

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Laboratory auctions show that consumers may be willing to pay more for pathogen-free food products treated with technologies such as irradiation, but the degree to which they are willing to pay may depend on the messages ï¾– pro and con ï¾– they hear and read.