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Experimental Evidence on Willingness to Pay for Red Meat Traceability in the United States, Canada, the United Kingdom, and Japan

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 for red meat traceability and related product characteristics with comparable experimental auctions in the United States, Canada, the U.K., and Japan. The results show that subjects are willing to pay a nontrivial premium for traceability, but the same subjects show even higher WTP for traceability-provided characteristics like additional meat safety and humane animal treatment guarantees. The implication is that producers might be able to implement traceable meat systems profitably by tailoring the verifiable characteristics 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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