On the Use of Multi-Unit Auctions in Measuring Consumers’ Willingness to Pay For Food Products

Faical Akaichi, University of Arkansas, USA
Rodolfo M. Nayga, University of Arkansas, USA
Jose M. Gil, CREDA, Polytechnic University of Catalonia, Spain
This paper proposes the use of multi-unit auctions in studying consumers’ willingness to pay for products in a multi-unit shopping scenario. We show how this method can overcome the limitations of single-unit experimental auctions in obtaining demand curve, consumer surplus, inverse elasticity and determinants of consumers’ WTP for multiple units.
[ to cite ]:
Faical Akaichi, Rodolfo M. Nayga, and Jose M. Gil (2011) ,"On the Use of Multi-Unit Auctions in Measuring Consumers’ Willingness to Pay For Food Products", in NA - Advances in Consumer Research Volume 39, eds. Rohini Ahluwalia, Tanya L. Chartrand, and Rebecca K. Ratner, Duluth, MN : Association for Consumer Research, Pages: 311-317.