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January 1, 20032003 Annual meeting, July 27-30, Montreal, CanadaOpen Access

A Tale of Two Premiums- Examining Bids From a Multiple Round Vickrey Auction With Differing Information Sets

Sean P. Hurley James Kliebenstein

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Abstract

Two definitions of willingness-to-pay derived from a Vickrey auction with multi-product and multiple rounds with different information sets are examined. These definitions are examined in the context of valuing pork products with embedded environmental attributes and we show how information can have adverse effects on a base product of comparison.

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Hurley et al. (2003) studied this question.

synapsesocial.com/papers/6a7cf7af50edcffafcaeb508 https://doi.org/10.22004/ag.econ.22192

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