Consumer willingness to pay for traditional food products
Péter Balogh,
Dániel Békési,
Matthew Gorton,
József Popp and
Péter Lengyel
Food Policy, 2016, vol. 61, issue C, 176-184
Abstract:
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.
Keywords: Traditional foods; Discrete choice experiment; Preference heterogeneity; Generalized multinomial logit model; WTP space (search for similar items in EconPapers)
Date: 2016
References: Add references at CitEc
Citations: View citations in EconPapers (61)
Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0306919216300161
Full text for ScienceDirect subscribers only
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:eee:jfpoli:v:61:y:2016:i:c:p:176-184
DOI: 10.1016/j.foodpol.2016.03.005
Access Statistics for this article
Food Policy is currently edited by J. Kydd
More articles in Food Policy from Elsevier
Bibliographic data for series maintained by Catherine Liu (repec@elsevier.com).