Umberger, Wendy J.; Feuz, Dillon M. - NCR-134 Conference on Applied Commodity Price Analysis, … - 2001
Experimental economics procedures such as laboratory experimental auctions are increasingly being used to measure consumers' willingness-to-pay. A sealed-bid, fourth-price Vickrey-style auction was used to measure consumers' willingness-to-pay for flavor in beef steaks. Two hundred and...