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An Empirical Application Of Laboratory Experimental Auctions In Marketing Research

  • Menkhaus, Dale J.
  • Borden, George W.
  • Whipple, Glen D.
  • Hoffman, Elizabeth
  • Field, Ray A.

A laboratory experimental auction was used to determine factors influencing the relative value consumers place on alternative retail beef packaging. Results indicate information is very important for the successful introduction and marketing of the vacuum skin package. Physical appearance of the beef plays a major role in purchasing decisions by consumers, with fat and shape significantly decreasing the value of beef in the vacuum skin package relative to beef in the overwrapped styrofoam tray package. Experimental economics procedures, when combined with traditional marketing research techniques, can provide useful information for marketing decisions and economic analyses.

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File URL: http://purl.umn.edu/30741
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Article provided by Western Agricultural Economics Association in its journal Journal of Agricultural and Resource Economics.

Volume (Year): 17 (1992)
Issue (Month): 01 (July)
Pages:

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Handle: RePEc:ags:jlaare:30741
Contact details of provider: Web page: http://waeaonline.org/
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  1. Kagel, John H & Harstad, Ronald M & Levin, Dan, 1987. "Information Impact and Allocation Rules in Auctions with Affiliated Private Values: A Laboratory Study," Econometrica, Econometric Society, vol. 55(6), pages 1275-1304, November.
  2. Forsythe, Robert & Isaac, R. Mark., . "Demand-Revealing Mechanisms for Private Good Auctions," Working Papers 351, California Institute of Technology, Division of the Humanities and Social Sciences.
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