Experimental Evidence of Risk Aversion in Consumer Markets: The Case of Beef Tenderness

Frode Alfnes, Kyrre Rickertsen and Oydis Ueland

No 19285, 2005 Annual meeting, July 24-27, Providence, RI from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: We use an experimental auction market to investigate how inconsistency in tenderness affects consumers' WTP for beef. We find that both the level and the spread of tenderness affect consumers' WTP. Categorization the beef into various classes of tenderness increased the total value of the beef by 8%.

Keywords: Consumer/Household; Economics (search for similar items in EconPapers)
Pages: 29
Date: 2005
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Working Paper: Experimental Evidence of Risk Aversion in Consumer Markets: The Case of Beef Tenderness (2005)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea05:19285

DOI: 10.22004/ag.econ.19285

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