Journal #J-06/2003
European Consumers' Willingness to Pay for US Beef in Experimental Auction Markets
Frode Alfnes & Kyrre Rickertsen
Department of Economics & Social Sciences Agricultural University of Norway PO Box 5033, N-1432 Ås, Norway http://www.nlh.no/ior/ e-mail: frode.alfnes@ior.nlh.no

Alfnes, F. & K. Rickertsen (2003): "European Consumers' Willingness to Pay for US Beef in Experimental Auction Markets", American Journal of Agricultural Economics, 85(2):396-405.

Abstract:
Consumers' willingness to pay for Irish, Norwegian, U.S. hormone-free, and U.S. hormone treated beef was studied in an experimental auction market. We ran four simultanious second-price auctions among our four alternatives. Most participants preferred domestic to imported beef, and half the participants preferred the Irish to the U.S. hormone-free beef. Hormone-treated beef received the lowest mean bid. but 28 % of the participants were indifferent or preferred hormone treated to U.S. hormone free beef.

Key words: Auctions, beef, experimental economics, growth hormones, international trade, willingness to pay.

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