Role of credence and health information in determining US consumers’ willingness-to-pay for grass-finished beef
| Autor: | R. Curt Lacy, Wendy J. Umberger, Peter C. Boxall |
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| Rok vydání: | 2009 |
| Předmět: |
Product (business)
Economics and Econometrics Willingness to pay Cost estimate Credence Beef consumer credence experimental auctions health willingness-to-pay Agribusiness Food Consumption/Nutrition/Food Safety Livestock Production/Industries Production (economics) Common value auction Business Marketing Agricultural and Biological Sciences (miscellaneous) Comparative advantage Agribusiness |
| Zdroj: | Australian Journal of Agricultural and Resource Economics. 53:603-623 |
| ISSN: | 1467-8489 1364-985X |
| DOI: | 10.1111/j.1467-8489.2009.00466.x |
| Popis: | Consumer demand for forage- or grass-finished beef is rapidly emerging in the US. This research uses data elicited from consumer surveys and experimental auctions to provide insight on product attributes (taste/flavour, credence and nutritional characteristics) and socio-demographic factors that are most important in determining US consumers’ preferences and willingness to pay premiums for grass-finished versus grain-finished beef. Information related to beef production processes increased the probability consumers would be willing to pay a premium for grass-fed beef. However, it appears that health-related messages are more important drivers of willingnessto- pay, on average, than the absence of antibiotics and supplemental hormones and traceability. Labelling information regarding grass-fed beef’s nutritional content and related production processes is vital for maintaining and growing premium niche markets for grass-fed beef in the US. The relative size of the willingness to pay estimates compared to previous cost estimates suggest that the Australian beef industry may have a comparative advantage for finishing beef on forage and marketing premium grass-fed differentiated beef products in the US market. |
| Databáze: | OpenAIRE |
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