TEST MARKETING NEW FOOD-PRODUCTS USING A MULTITRIAL NONHYPOTHETICAL EXPERIMENTAL AUCTION

A nonhypothetical experimental auction is used to replicate point-of-p urchase decisions made by consumers encountering new food products in retail stores, Several applications of the procedure are discussed, wi th emphasis on the case-specific adjustments required to make the auct ion work. Participants in the experiments paid their own money to cons ume 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. (C) 1996 John Wiley & Sons, Inc.