"Basic economic theory predicts that a consumer's willingness to pay for a good is affected by the availability of complements and substitutes. In an auction setting, this theory implies that the presence of complements would increase bid prices for a good, while the presence of substitutes...

In most experimental auctions, researchers ask participants to bid on the same item in multiple potentially binding rounds, posting the price submitted by the top bidder or bidders after each of those rounds. If bids submitted in later rounds are affiliated with posted prices from earlier...

We report the results of an experiment designed to test whether initial endowments affect value estimates elicited from experimental auctions. Comparing bids for one unit of a good, two units of a good, and a second unit of a good when endowed with the first unit, we find that willingness to pay...

Basic economic theory predicts that a consumer's willingness to pay for a good is affected by the presence of complements and substitutes. In an auction setting, this theory implies that the presence of complements would increase bid prices for a good, while the presence of substitutes would...

The material contained herein is supplementary to the article named in the title and published in the American Journal of Agricultural Economics, Volume 88, Number 4, November 2006.

Scientists and advocates can disagree on the value of new products or technologies, such as growth hormones, genetically modified organisms, and food irradiation. Both sides of the debate disseminate information to the public hoping to influence public opinion. This study assesses the economic...

Consumers' willingness to pay for food products decreases when the food label indicates that a food product is produced with the aid of modern biotechnology. This bulletin presents empirical evidence on consumers' willingness to pay for biotech foods based on the presence or absence of labels...