scholarly journals Willingness to pay for a new farm technology given risk preferences: Evidence from an experimental auction in Kenya

2021 ◽  
Author(s):  
Hira Channa ◽  
Jacob Ricker‐Gilbert ◽  
Hugo De Groote ◽  
Jonathan Bauchet
Keyword(s):  
Willingness To Pay ◽  
Risk Preferences ◽  
Experimental Auction

U.S. consumer preference and willingness-to-pay for domestic corn-fed beef versus international grass-fed beef measured through an experimental auction

Agribusiness ◽  
2002 ◽  
Vol 18 (4) ◽  
pp. 491-504 ◽  
Author(s):  
Wendy J. Umberger ◽  
Dillon M. Feuz ◽  
Chris R. Calkins ◽  
Karen Killinger-Mann
Keyword(s):  
Willingness To Pay ◽  
Consumer Preference ◽  
Experimental Auction

Consumers’ willingness to pay for light, organic and PDO cheese

2016 ◽  
Vol 118 (3) ◽  
pp. 560-571 ◽  
Author(s):  
Tiziana de-Magistris ◽  
Azucena Gracia
Keyword(s):  
Willingness To Pay ◽  
Personal Characteristics ◽  
Consumer Preference ◽  
Experimental Auction ◽  
Content Type ◽  
Market Simulation ◽  
Sheep Milk ◽  
Health Related ◽  
University Level ◽  
Real Market

Purpose – The purpose of this paper is to assess consumers’ willingness to pay (WTP) for three different food claims on semi-cured, pasteurized sheep milk cheese. In particular, the authors used a health-related claim (the nutritional claim indicating a reduced fat content: “light”), a regional claim (“designation of origin – PDO”) and an organic claim (the European organic logo). Moreover, the authors investigated whether consumers’ personal characteristics could influence their WTP for those types of cheese. Design/methodology/approach – A home-grown experimental auction was applied in Spain during Spring 2012. The authors opted to use the nth random price with repeated rounds and without price feedback. Findings – The results show that consumers were willing to pay more for PDO cheese, followed by organic and light cheese. Moreover, respondents who were female, older and with a university-level education showed some environmental concerns, influencing their WTP for different cheeses. Originality/value – Empirical evidence on consumers’ preferences for PDO, organic and nutritional claims, evaluated jointly, is lacking in Spain. Moreover, the home-grown auction has several merits in terms of real market simulation and consumer preference application.

scholarly journals Determining Consumer Perceptions of and Willingness to Pay for Appalachian Grass-Fed Beef: An Experimental Economics Approach

2011 ◽  
Vol 40 (2) ◽  
pp. 233-250 ◽  
Author(s):  
Jason R. Evans ◽  
Gerard E. D'Souza ◽  
Alan Collins ◽  
Brown Cheryl ◽  
Mark Sperow
Keyword(s):  
Willingness To Pay ◽  
Experimental Economics ◽  
Consumer Preferences ◽  
Consumer Perceptions ◽  
Market Potential ◽  
Price Premium ◽  
Nutritional Content ◽  
Appalachian Region ◽  
Experimental Auction ◽  
Auction Mechanism

The focus of the current study was on the market potential for grass-fed beef in the Appalachian region, given that these products embody observed, experiential, nutritional, and process attributes that may appeal to a large consumer base. An in-store variant of the Becker-DeGroot-Marschack experimental auction mechanism was employed in the region to determine consumer preferences and willingness to pay. A majority of respondents preferred the grass-fed product over conventional grain-fed samples and were willing to pay a price premium to obtain it. Preferences for grass-fed were rooted largely in the associated superior nutritional content and core observed attributes.

scholarly journals Consumer Perception of Skinning Injury in Sweetpotatoes and Implications for Marketability: An Experimental Auction

2019 ◽  
Vol 29 (4) ◽  
pp. 468-475
Author(s):  
Alba J. Collart ◽  
Stephen L. Meyers ◽  
Jason K. Ward
Keyword(s):  
Image Analysis ◽  
Willingness To Pay ◽  
Ipomoea Batatas ◽  
Consumer Perception ◽  
Experimental Auction ◽  
Storage Roots ◽  
Incentive Compatible ◽  
Price Premiums

Skinning of sweetpotato (Ipomoea batatas) storage roots is one of the greatest concerns of sweetpotato producers. Although skinning injury is very common, the severity of the injury can vary widely. At an undefined threshold, sweetpotatoes with skinning injury are no longer sold for fresh consumption. The objectives of this study were to examine how skinning injury influences consumers’ willingness-to-pay (WTP) for sweetpotatoes and to identify differences in valuations when the extent of skinning injury is labeled. Image analysis was used to quantify skinning injury and then an incentive-compatible, nonhypothetical laboratory experimental auction was conducted to collect data on consumers’ WTP for five categories of sweetpotatoes: 0% to <1% skinning injury, 1.0% to 3.0%, 3.1% to 5.0%, 5.1% to 7.5%, and 7.6% to 10.0%. On average, consumers were willing to pay the most for sweetpotatoes with 0% to <1% skinning injury (up to $1.51/lb to $1.67/lb) and the least for sweetpotatoes with 7.6% to 10% (up to $0.76/lb to $0.85/lb), yet mean WTP values were nonzero for all skinning levels. Moreover, when the extent of skinning was labeled (relative to when they bid blindly), consumers were willing to pay price premiums for sweetpotatoes with low skinning injury levels (0% to 5%) and discounted sweetpotatoes with the highest skinning injury level (7.6% to 10.0%), suggesting that skinning levels of 7.6% and above may not be acceptable by consumers.

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