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,...

In this paper we examine the role of providing extensive training to subjects in the context of experimental auctions. We conducted an experiment where we auctioned several lotteries with varying payoffs. One group of subjects was extensively trained while another group of subjects was only...

Heteroskedasticity in ordered response models has not garnered enough attention in the literature. Econometric software packages do not handle this problem satisfactorily either. We provide formulas to calculate heteroskedasticity corrected marginal effects and discrete changes using an approach...

In this paper, we document a violation of normative and descriptive models of decision making under risk. In contrast to uncertainty effects found by Gneezy, List and Wu (2006), some subjects in our experiments valued certain lotteries more than the best possible outcome. We show that the...

Many countries around the world have already mandated, or plan to mandate, the presence of nutrition related information on most pre-packaged food products. Health advocates and lobbyists would like to see similar laws mandating nutrition information in the restaurant and fast-food market as...

Heteroskedasticity in ordered response models has not garnered enough attention in the literature. Econometric software packages do not handle this problem satisfactorily either. We provide formulas to calculate heteroskedasticity corrected marginal effects and discrete changes using an approach...