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On the Use of Multi-Unit Auctions in Measuring Consumers’ Willingness to Pay for Food Products

Author

Listed:
  • Akaichi, Faiçal
  • Nayga, Rodolfo M., Jr.
  • Gil, Jose Maria

Abstract

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 not just the first unit but also subsequent units of a product, the demand curve, consumer surplus, the determinants of consumers’ WTP for each auctioned unit, and the effect of potential price discount strategies.

Suggested Citation

  • Akaichi, Faiçal & Nayga, Rodolfo M., Jr. & Gil, Jose Maria, 2010. "On the Use of Multi-Unit Auctions in Measuring Consumers’ Willingness to Pay for Food Products," 2010 Annual Meeting, July 25-27, 2010, Denver, Colorado 60983, Agricultural and Applied Economics Association.
    • Handle: RePEc:ags:aaea10:60983
    DOI: 10.22004/ag.econ.60983
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