Purpose –The purpose of this paper is to determine and contrast the risk mitigating effectiveness from optimal multiproduct time-varying hedge ratios, applied to the margin of a cattle feedlot operation, over single commodity time-varying and naive hedge ratios. Design/methodology/approach...

The validity and effectiveness of using experimental auctions to elicit consumers' willingness-to-pay for closely related, quality-differentiated products is examined. The effect of panelists' demographics on bid values and auction winners, and the impact of experimental procedures on auction...

Experimental auction procedures were used to measure Chicago and San Francisco consumers' willingness-to-pay for beef flavor from domestic, corn-fed beef versus Argentine, grass-fed beef. Based on taste panel rankings and bid differentials between paired steak samples, consumers were grouped...