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Consumers' Valuation (consumer + valuation)
Selected AbstractsAlberta Consumers' Valuation of Extrinsic and Intrinsic Red Meat Attributes: A Choice Experimental ApproachCANADIAN JOURNAL OF AGRICULTURAL ECONOMICS, Issue 2 2010Bodo Steiner This paper analyzes Alberta consumers' perceptions toward extrinsic and intrinsic attributes of bison and beef steaks. In contrast to published Canadian consumer studies on bison meat that were undertaken prior to May 2003, before the first BSE case of Canadian origin was identified in beef cattle, this study provides a "post-BSE" assessment of consumer perceptions toward selected bison meat attributes. The results from an attribute-based choice experiment provide little support that simple traceability assurance schemes have value to consumers of bison and beef steaks, thus confirming similar findings of earlier beef studies that have employed different methodological approaches. The results also suggest that consumers are willing to pay significant premiums for bison steaks that are certified as being produced without genetically modified organisms, an attribute that has so far been unexplored in previous published bison studies. Le présent article analyse les perceptions des consommateurs de l'Alberta envers des attributs intrinsèques et extrinsèques du bifteck de b,uf et de bison. Contrairement aux études canadiennes sur la consommation de viande de bison publiées avant mai 2003, soit avant l'apparition du premier cas d'ESB dans un troupeau de bovins canadien, la présente étude livre une évaluation « post-ESB » des perceptions des consommateurs envers des attributs sélectionnés de la viande de bison. Les résultats obtenus à partir de la méthode des choix multi-attributs apportent peu d'appui à l'idée voulant que les mécanismes simples d'assurance de la traçabilité aient de la valeur pour les consommateurs de bifteck de bison et de b,uf, ce qui confirme les résultats similaires d'études antérieures sur le b,uf effectuées à l'aide de diverses approches méthodologiques. De plus, les résultats ont montré que les consommateurs sont prêts à payer un supplément appréciable pour du bifteck de bison certifié sans organisme génétiquement modifié (OGM), un attribut qui n'a pas été examiné dans les études sur le bison publiées antérieurement. [source] Demand for differentiated milk products: implications for price competitionAGRIBUSINESS : AN INTERNATIONAL JOURNAL, Issue 4 2009Elena Lopez The authors apply the Berry, Levinsohn, and Pakes (1995) model to scan data from Boston supermarkets augmented with consumer characteristics data to analyze consumer choices and price competition in a differentiated fluid milk market. Milk characteristics include price, fat content, brand name, and the organic and/or lactose-free nature of the product. Empirical results show that consumer valuation of fat decreases with income, but increases with the number of children. Low-fat and specialty milks, such as organic and lactose-free milks, are preferred by high-income consumers with no children. Although all milks are price elastic at the individual brand level, the cross-price elasticities are quite low and negligible for specialty milks. Based on calculated Lerner indexes, private label milks have the highest percent markups despite their lower prices, whereas specialty milks have the lowest markups despite their higher prices, which attests to a greater degree of market power for conventional and particularly for private label milk. [JEL Classification: D12, D40, L11, L81]. © 2009 Wiley Periodicals, Inc. [source] Consumer response to functional foods produced by conventional, organic, or genetic manipulationAGRIBUSINESS : AN INTERNATIONAL JOURNAL, Issue 2 2004Bruno Larue The agro-food industry is developing a "second generation" of genetically modified (GM) foods that can offer functional health benefits to consumers. Many consumers, however, are turning to organic foods in order to avoid GM foods. This report attempts to differentiate consumer valuation of functional health properties in conventional, organic, and GM foods. A representative sample of 1,008 Canadian household food shoppers responded to twelve stated-choice experiments during a telephone survey. Because opinions about organic and GM foods varied greatly, random parameters logit models were used to analyze their choices. Results indicate that many Canadian consumers will avoid GM foods, regardless of the presence of functional health properties. For others, the introduction of GM functional plant foods should increase acceptance of GM production methods, but many consumers will likely avoid functional foods derived from GM animals. The organic food industry could also profit from the introduction of organic functional foods. [EconLit citations: I120; D120.] © 2004 Wiley Periodicals, Inc. Agribusiness 20: 155,166, 2004. [source] Price and Variety in the Spokes Model,THE ECONOMIC JOURNAL, Issue 522 2007Yongmin Chen The spokes model of nonlocalised spatial competition provides a new analytical tool for differentiated oligopoly and a representation of spatial monopolistic competition. An increase in the number of firms leads to lower equilibrium prices when consumers have relatively high product valuations, but, surprisingly, to higher equilibrium prices for intermediate consumer valuations. New entry alters consumer and social welfare through price, market expansion, and matching effects. With free entry, the market may provide too many or too few varieties from a social welfare perspective, and the equilibrium price remains above marginal cost even when the number of firms is arbitrarily large. [source] How do U.S. and Canadian consumers value credence attributes associated with beef labels after the North American BSE crisis of 2003?INTERNATIONAL JOURNAL OF CONSUMER STUDIES, Issue 4 2010Bodo E. Steiner Abstract A consumer survey conducted in 2006 (n = 419), and therefore after the first confirmed bovine spongiform encephalopathy (BSE) cases in North America in 2003, employs attribute-based choice experiments for a cross-country comparison of consumers' valuation of credence attributes associated with beef steak labels; specifically a guarantee that beef was tested for BSE, a guarantee that the steaks were produced without genetically modified organisms (GMOs) and a guarantee that beef steaks were produced without growth hormones and antibiotics. Considering consumers' socio-economic characteristics, the results suggest that consumers in Montana (U.S.) and Alberta (Canada) are significantly heterogeneous in their valuation of the above attributes, although consumers' relative valuation of these process attributes does not appear to have changed since the 2003 BSE crisis in each region. Alberta consumers place a significant valuation on beef tested for BSE, which is striking because Canada's current legal environment does not permit testing and labelling of such beef by private industry participants. Montana consumers' valuation was found highest for a guarantee that the steaks were produced without GMO. Effective supply-chain responses to consumers' valuation of credence attributes, for example, in the form of labelling, should therefore take consumers' heterogeneity into account. [source] Would consumers value food-away-from-home products with nutritional labels?AGRIBUSINESS : AN INTERNATIONAL JOURNAL, Issue 4 2009Andreas C. Drichoutis The authors examine consumers' valuation for food-away-from-home products with and without nutritional labels using experimental auctions. They presented subjects with three different nutritional information schemes: a European Union type label, a United States type label, and a traffic-light colored information label. Furthermore, they examined the role of reference prices (i.e., the real market prices of the products) within the context of experimental auctions. Using well-known products, our results indicate that subjects bid more for the products with nutritional labels. However, among products with nutritional information, subjects' willingness to pay values differ depending on the type of nutritional label on the product. In addition, the authors find evidence that inclusion of reference prices leads to higher bids. [JEL classifications: D12, C23]. © 2009 Wiley Periodicals, Inc. [source] | ||||||||||