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Experimental Evidence on Willingness to Pay for Red MeatTraceability in the United States, Canada, the United Kingdom, andJapan

Published online by Cambridge University Press:  28 April 2015

David L. Dickinson  and
Dee Von Bailey
David L. Dickinson
Affiliation:
Department of Economics, Appalachian State University, Boone, NC
Dee Von Bailey
Affiliation:
Department of Economics, Utah State University, Logan, UT
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Abstract

We employed Vickrey auctions to generate willingness-to-pay (WTP) data forred meat traceability and related product characteristics with comparableexperimental auctions in the United States, Canada, the U.K., and Japan. Theresults show that subjects are willing to pay a nontrivial premium fortraceability, but the same subjects show even higher WTP fortraceability-provided characteristics like additional meat safety and humaneanimal treatment guarantees. The implication is that producers might be ableto implement traceable meat systems profitably by tailoring the verifiablecharacteristics of the product to consumer preferences.

Keywords

auction experimentsinformationred meattraceabilityC90D44D80
Type
Articles
Information
Journal of Agricultural and Applied Economics , Volume 37 , Issue 3 , December 2005 , pp. 537 - 548
Copyright
Copyright © Southern Agricultural Economics Association 2005

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