Consumer willingness to pay for traditional food products
By P. Balogh, Dániel Békési, Matthew Gorton, József Popp, P. Lengyel. 2016
224 citations recorded by the source corpus.
Reflecting the growing interest from both consumers and policymakers, and building on recent developments in Willingness to Pay (WTP) methodologies, we evaluate consumer preferences for an archetypal traditional food product. Specifically we draw on stated preference data from a discrete choice experiment, considering the traditional Hungarian mangalitza salami. A WTP space specification of the generalized multinomial logit model is employed, which accounts for not only heterogeneity in preferences but also differences in the scale of the idiosyncratic error term. Results indicate that traditional food products can command a substantial premium, albeit contingent on effective quality certification, authentic product composition and effective choice of retail outlet. Promising consumer segments and policy implications are identified.
Subfields: Economics and Econometrics, Plant Science
View Paper: https://www.semanticscholar.org/paper/5189c8c2e1e821e4dd1de25328428c6aa0782aad
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In Economics and Econometrics
In Plant Science
Citations in the corpus
- The influence of perceived credibility on purchase intention via competence and authenticity (2020, background): “, 2010), have become a growing market segment in the food service industry (Balogh et al., 2016).”