TITLE

On the Use of Multi-Unit Auctions in Measuring Consumers Willingness to Pay for Products

AUTHOR(S)
Akaichi, Faical; Nayga, Rodolfo M.; Gil, Jose M.
PUB. DATE
October 2011
SOURCE
Advances in Consumer Research;2011, Vol. 39, p311
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
The article presents a study which examines the measurement of the willingness to pay (WTP) of consumers using multi-unit auctions. It is inferred that the auction mechanism allows to obtain various information including the demand curve, factors influencing consumers' WTP and price elasticity. The authors utilized the auction mechanism to assess the consumers' valuation of multiple units of food products.
ACCESSION #
77591782

 

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