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

  • Jason R. Evans (a1), Gerard E. D'Souza (a2), Alan Collins (a2), Brown Cheryl (a2) and Mark Sperow (a2)...

Abstract

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.

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Keywords

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

  • Jason R. Evans (a1), Gerard E. D'Souza (a2), Alan Collins (a2), Brown Cheryl (a2) and Mark Sperow (a2)...

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