We study the impact of new information about food safety on subjects' willingness-to-pay for food products, in an experimental setting. We elicit prices using either a second price auction or the Becker-DeGroot-Marschak procedure. There are three stages of bidding. In stage 1, subjects bid for...

[eng] Governments are striving to introduce policies to combat the environmental and health repercussions of pollution problems such as atmospheric and groundwater pollution. However, a cost-benefit analysis is required before any environmental policy can be implemented. The problem is how to...