This paper proposes the use of multi-unit auctions in studying consumers’ willingness to pay (WTP) for food products in a multi-unit shopping scenario. We show how this method can overcome the limitations of single-unit experimental auctions in obtaining useful information related to WTP for...

This article examines the potential market demand and economic welfare impacts of a potential foodborne illness outbreak in the US blackberry industry using an ex ante partial equilibrium demand-supply framework. Even though a food contamination event has not occurred for blackberries in the US,...

In this paper, we develop a model of strategic delegation in which shareholders maintain an objective of market value maximization (MVM) of the firm's assets as measured by a capital asset pricing model (CAPM). Optimal delegation requires that managers maximize a linear combination of expected...