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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
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Citations: View citations in EconPapers (61)

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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

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