Consumers’ Preferences for Eco-labels on Plants: The Influence of Trust and Consequentiality Perceptions
Alicia Rihn and
Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), 2021, vol. 91, issue C
The primary objective of this research was to investigate the role of trust and consequentiality perceptions on consumer preferences for products with eco-labels. Consumer preferences and willingness-to-pay (WTP) were estimated for fruit plants with and without eco-labels using choice experiments from an online survey. Respondents were randomly assigned to different consequentiality treatments which indicated the organization (policy makers or horticulture industry) that would receive the study results when considering policies related to eco-labels. Respondents’ trust in the organizations behind the eco-labels and their perceptions of the study's consequentiality were measured. In general, eco-labels and perceived consequentiality increased respondents’ utility for the products. Respondents’ utility for eco-labeled products was amplified when participants were informed that policy makers would receive the results. Trust in the organization improved utility, suggesting trust plays an important role in consumer preferences and valuation of credence attributes.
Keywords: Choice experiment; Credence attributes; Mixed logit model; Sustainable production practices; Willingness-to-pay (search for similar items in EconPapers)
JEL-codes: C90 D12 Q18 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:soceco:v:91:y:2021:i:c:s2214804320307023
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