Measuring Consumers' Value of Organic-Beef using Contingent Valuation Method

Joo-Nyung Heo and Myunghwan Sung

Journal of Rural Development/Nongchon-Gyeongje, 2004, vol. 27, issue 4

Abstract: The dichotomous-choice contingent valuation method is applied to measure consumers' value of quality-certificated organic beef. First, a logit model is estimated like previous studies. Second is a distribution-free approach. The Turnbull empirical distribution model is employed to solve negative willingness to pay and truncation problems. The result is shown that consumers are willing to pay 7,019∼10,607 Won/per 600g more than the current price of regular beef for quality- certificated organic beef.

Keywords: Consumer/Household; Economics (search for similar items in EconPapers)
Date: 2004
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Persistent link: https://EconPapers.repec.org/RePEc:ags:jordng:288216

DOI: 10.22004/ag.econ.288216

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