Consumer willingness to pay for nano-packaged food products: evidence from experimental auctions and visual processing data

Bhagyashree Katare

No 162233, Master's Theses and Plan B Papers from University of Minnesota, Department of Applied Economics

Abstract: Using eye-tracking technology and experimental auctions, this paper evaluates the impact of information from various sources on consumers’ willingness to pay (WTP) for nano-packaged food products with varying shelf-lives. Information about the risks and benefits of nanotechnology in food processing from various sources was presented to consumers and consumers’ eyes were tracked and the time they spent on viewing the information was recorded. Double hurdle models estimation results show that the specific information about nanotechnology from various sources has a negative effect on the probability of consumer submitting positive bids for the nano-packaged products. Conditional on participants’ willingness to submit positive bids, general and specific information about nanotechnology had a positive effect on participants’ WTP for nano-packaged salads and apple sauce which are products with a relatively shorter shelf-life. The eye-tracking data in the analysis showed the proportion of the normalized time viewing the information from private industry significantly increased the WTP conditional on participants submitting a positive bid for apple sauce as compared with the proportion of normalized time viewing the information from environmental protection groups.

Keywords: Consumer/Household Economics; Food Consumption/Nutrition/Food Safety (search for similar items in EconPapers)
Pages: 52
Date: 2013-10
New Economics Papers: this item is included in nep-exp and nep-mkt
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:umapmt:162233

DOI: 10.22004/ag.econ.162233

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