Determining Consumer Perceptions of and Willingness to Pay for Appalachian Grass-Fed Beef: An Experimental Economics Approach

Jason R. Evans, Gerard E. D'Souza, Alan Collins, Brown Cheryl and Mark Sperow

Agricultural and Resource Economics Review, 2011, vol. 40, issue 2, 233-250

Abstract: The focus of the current study was on the market potential for grass-fed beef in the Appalachian region, given that these products embody observed, experiential, nutritional, and process attributes that may appeal to a large consumer base. An in-store variant of the Becker-DeGroot-Marschack experimental auction mechanism was employed in the region to determine consumer preferences and willingness to pay. A majority of respondents preferred the grass-fed product over conventional grain-fed samples and were willing to pay a price premium to obtain it. Preferences for grass-fed were rooted largely in the associated superior nutritional content and core observed attributes.

Date: 2011
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