Purchase Intention Effects in Experimental Auctions and Real Choice Experiments
This article examines consumers’ preference for three types of orange juice in China. Two non-hypothetical experiments, Real Choice Experiments and Experimental Auctions were used in the study. We found that WTP estimates from real choice experiment are significantly higher than auction bids, which is consistent with what Lusk and Schroeder (2006) and Gracia, Loureiro, and Nayga (2011) found in their paper. In addition, we found that purchase intention only has significantly effects on consumers’ behavior in Experimental Auction, but not in Real Choice Experiments, and this purchase intention only has effects on non-novel food, but not novel food.
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- Azucena Gracia & Maria L. Loureiro & Rodolfo M. Nayga, 2011. "Are Valuations from Nonhypothetical Choice Experiments Different from Those of Experimental Auctions?," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 93(5), pages 1358-1373.
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- Jae Bong Chang & Jayson L. Lusk & F. Bailey Norwood, 2007. "How Closely Do Hypothetical Surveys and Laboratory Experiments Predict Field Behavior?," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 91(2), pages 518-534.
- Cameron, Trudy Ann & Poe, Gregory L. & Ethier, Robert G. & Schulze, William D., 2002. "Alternative Non-market Value-Elicitation Methods: Are the Underlying Preferences the Same?," Journal of Environmental Economics and Management, Elsevier, vol. 44(3), pages 391-425, November.
- Irwin, Julie R, et al, 1998. "Payoff Dominance vs. Cognitive Transparency in Decision Making," Economic Inquiry, Western Economic Association International, vol. 36(2), pages 272-285, April.
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