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...

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...

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.

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