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Auction experiments were used to examine demand relationships and willingness to pay (WTP) for organic, rBST-free, no antibiotics used, and conventional milk. Elasticities showed strong substitute and complement relationships between organic, rBST-free, and no antibiotics varieties. The sum of...
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The public good experiment has been used as both a teaching and research tool. In almost all instances it has been designed without reference to a specific public good or real-world application. This is done so participants' feelings or experiences involving the public good do not affect their...
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