Valuing traceability of imported beef in Korea: an experimental auction approach

Ji Yong Lee, Doo Bong Han, Rodolfo Nayga and Song-Soo Lim

Australian Journal of Agricultural and Resource Economics, 2011, vol. 55, issue 3, 14

Abstract: The major objective of this study is to estimate Korean food shoppers’ willingness to pay (WTP) for imported beef with traceability. We use an experimental elicitation method, the random nth price auction, to identify consumers’ valuation for traceable imported beef. We also analyse the effect of different types of information on these valuations. Results indicate that consumers are generally willing to pay a 39 per cent premium for the traceable imported beef over similar beef without traceability. Results also suggest that in contrast to the insignificant effect of positive information, negative and two-sided information about traceability significantly reduces WTP.

Keywords: Consumer/Household Economics; Livestock Production/Industries; Production Economics (search for similar items in EconPapers)
Date: 2011
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (22)

Downloads: (external link)
https://ageconsearch.umn.edu/record/186963/files/j.1467-8489.2011.00553.x.pdf (application/pdf)

Related works:
Journal Article: Valuing traceability of imported beef in Korea: an experimental auction approach (2011)
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:ags:aareaj:186963

DOI: 10.22004/ag.econ.186963

Access Statistics for this article

More articles in Australian Journal of Agricultural and Resource Economics from Australian Agricultural and Resource Economics Society Contact information at EDIRC.
Bibliographic data for series maintained by AgEcon Search ().