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A TALE OF TWO PREMIUMS- EXAMINING BIDS FROM A MULTIPLE ROUND VICKREY AUCTION WITH DIFFERING INFORMATION SETS

Two definitions of willingness-to-pay derived from a Vickrey auction with multi-product and multiple rounds with different information sets are examined. These definitions are examined in the context of valuing pork products with embedded environmental attributes and we show how information can have adverse effects on a base product of comparison.
Year of publication:
2003
Authors: Hurley, Sean P. ; Kliebenstein, James B.
Institutions: Agricultural and Applied Economics Association - AAEA
Keywords: Consumer/Household Economics
Extent:
application/pdf
Series:
Type of publication: Book / Working Paper
Notes:
The text is part of a series 2003 Annual meeting, July 27-30, Montreal, Canada Number 22192
Source:
Persistent link: https://www.econbiz.de/10005060743
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