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...

Atrazine is one of the most effective and inexpensive herbicides used in corn and sorghum production. Atrazine is also one of the most frequently detected chemicals in water systems. This paper uses the CEEPES model to evaluate the benefit-risk tradeoffs associated with five policies to restrict...

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...

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Genetically modified (GM) foods have been engulfed in considerable controversy, and the early optimism has been dampened. Information issues--labeling and asymmetric information--are central to the GM-food debate. Furthermore, it is important to understand the reaction in developed countries to...

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...

Two interested parties dominate the current debate on genetically modified (GM) foods: environmental groups and agribusiness companies. For the average consumer to arrive at an informed decision on these new foods, they must rely on information from interested parties. Unfortunately, information...

Genetically modified (GM) foods have caused many controversies. One important controversy relates to tolerance?the impurity rate that is tolerated before a commodity must be labeled as genetically modified. Currently, the United States does not have a specific tolerance or threshold level for GM...

This paper addressed the puzzling resistance of Presidents of southern African countries to food aid in 2002, given near certain starvation and long-term negative health effects of malnutrition of their constituents.  First, I show that NGOs led by Greenpeace and Friends of the Earth are...

Abstract Currently Unavailable.