Document Type

Article

Publication Date

12-1993

Journal or Book Title

Journal of Agricultural and Resource Economics

Volume

18

Issue

2

First Page or Article ID Number

175

Last Page

184

Abstract

A split-valuation method is developed and implemented to elicit the willingness to pay to consume-or avoid consuming-a product of ambiguous quality. The split-valuation method uses experimental auction markets to separate and value the positive and negative attributes of the ambiguous good. The results show that the method can be used to successfully value a good of ambiguous quality. Our application reveals that for a sample of students at a midwestern land-grant institution, the average respondent is willing to pay a premium for meat produced with the use of a genetically engineered growth enhancer that has 30% to 60% fewer calories and is 10% to 20% leaner.

Comments

This article is from Journal of Agricultural and Resource Economics 18, no. 2 (1993): 175–1843.

Copyright Owner

Western Agricultural Economics Association

Language

en

File Format

application/pdf

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