ALTERNATIVE CALIBRATION AND AUCTION INSTITUTIONS FOR PREDICTING CONSUMER WILLINGNESS-TO-PAY FOR NON-GENETICALLY MODIFIED CORN CHIPS

This study explores two important issues in experimental economics: calibration and auction institution. Consumer willingness-to-pay bids for corn chips made with non-genetically modified ingredients are elicited from a 1st price and 2nd price auction. Results suggest that responses to scale differential questions, in a survey, accurately predict consumer willingness-to-pay bids. The 2 nd price auction induces a greater percentage of marginal bidders to offer a positive bid than a 1st price auction. However, average bid levels in the 1st and 2nd price auctions were not statistically different from one other. In a small and unrepresentative sample, 70 percent of student participants were unwilling to pay to exchange a bag of genetically modified corn chips for a bag of non-genetically modified corn chips. However, 20 percent of respondents were willing to pay at least $0.25/oz for the exchange.Consumer/Household Economics, Demand and Price Analysis,

A Two-Dimensional Carbon Semiconductor

We show that patterned defects can be used to disrupt the sub-lattice symmetry of graphene so as to open up a band gap. This way of modifying graphene's electronic structure does not rely on external agencies, the addition of new elements or special boundaries. The method is used to predict a planar, low energy, graphene allotrope with a band gap of 1.2 eV. This defect engineering also allows semiconducting ribbons of carbon to be fabricated within graphene. Linear arrangements of defects lead to naturally embedded ribbons of the semiconducting material in graphene, offering the prospect of two-dimensional circuit logic composed entirely of carbon.Comment: 4 pages, 5 figure