We find sale prices and net revenues received by sellers in the Midwestern club-pig market are higher at traditional face-to-face auctions than at comparable Internet auctions. The comparison overcomes endogenous selection issues that commonly plague such analyses by using data from sellers that...

We provide a systematic examination of the differences between Internet and in-person auction prices for used tractors. A hedonic model estimated with transactions pooled between eBay and in-person auctions reveals statistically distinct price surfaces for the two auction venues and predicts...

We provide a systematic examination of the differences between Internet and in-person auction prices for used tractors. A hedonic model estimated with transactions pooled between eBay and in-person auctions reveals statistically distinct price surfaces for the two auction venues and predicts...

Increasingly, foods are marketed as locally grown. We use stated preference data from a choice-based conjoint instrument to address two issues surrounding consumer demand for locally produced goods: (1) what is the geographical extent of local, and (2) is the value consumers place on local...

A model of vertical product differentiation is used to analyze the labeling of credence goods, focusing on the manner by which quality is communicated. The results indicate that firms prefer private labeling options. In addition, firms may hire private certifiers as well as paying for mandated...

We use economic experiments to investigate how different contract enforcement regimes affect efficiency and the distribution of surplus in a vertically coordinated market with buyer concentration. We find that if a third party (e.g., government) perfectly enforces contracts, social efficiency is...