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U.S. Consumers' Valuation of Quality Attributes in Beef Products

Published online by Cambridge University Press:  26 January 2015

Babatunde O. Abidoye ,
Harun Bulut ,
John D. Lawrence ,
Brian Mennecke  and
Anthony M. Townsend
Babatunde O. Abidoye
Affiliation:
Economic Policy Analysis (ECOPA), Iowa State University, Ames, IA
Harun Bulut
Affiliation:
National Crop Insurance Services, Iowa State University, Ames, IA
John D. Lawrence
Affiliation:
Department of Economics, Iowa State University, Ames, IA
Brian Mennecke
Affiliation:
Department of Management and Information Systems, Iowa State University, Ames, IA
Anthony M. Townsend
Affiliation:
Department of Management and Information Systems, Iowa State University, Ames, IA
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Abstract

A sample of U.S. consumers were surveyed in a choice based experiment in the Fall of 2005 and Spring 2006 to elicit Consumers' preferences for quality attributes in beef products. Based on the resulting data, a random coefficients logit model is estimated, and Consumers' willingness to pay for these quality attributes in beef products is obtained. The results indicate that consumers have strong valuation for traceability, grass-fed, and U.S. origin attributes in a standard rib-eye steak and are willing to pay a premium for these attributes.

Keywords

choice experimentconjoint analysisquality attributesrandom parameters logitwillingness to payQ10Q1
Type
Research Article
Information
Journal of Agricultural and Applied Economics , Volume 43 , Issue 1 , February 2011 , pp. 1 - 12
Copyright
Copyright © Southern Agricultural Economics Association 2011

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