Are Country of Origin and Non-GM Premiums Invariant to Experimental Auction Structure?
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A revealed preference auction experiment is used to elicit values for two
attributes, one relating to genetic modification and the other to country of
origin of the food product, canola oil. A premium for a non-GM canola oil
is found to approximate CA$0.4 to $0.6 per litre. Auction format effects
are found and hypotheses as to why these may occur are suggested.