A nonhypothetical experimental auction is used to replicate point-of-purchase decisions made by consumers encountering new food products in retail stores. Several applications of the procedure are discussed, with emphasis on the case-specific adjustments required to make the auction work. Participants in the experiments paid their own money to consume or avoid consuming livestock products produced with four yet-to-be-commercialized technologies. The results show promise for widespread adoption of nonhypothetical auctions for evaluating new food products prior to test marketing.
|Original language||English (US)|
|Number of pages||15|
|Journal||Psychology and Marketing|
|State||Published - Jul 1996|
ASJC Scopus subject areas
- Applied Psychology