CONSUMER VALUATION OF BEEF RIBEYE STEAK ATTRIBUTES
Jayson Lusk () and
John Fox ()
No 21793, 2000 Annual meeting, July 30-August 2, Tampa, FL from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)
A choice experiment (conjoint analysis) was used to investigate consumer demand for several beef ribeye steak attributes. Respondents indicated that they would prefer a "hormone free" ribeye steak priced up to $6.68/lb. more than a "non-hormone" free ribeye steak. Tenderness was also identified as an important attribute in the consumer purchasing decision as a one-unit increase in the tenderness of a steak (on a scale of one to 10) was associated with a $1.13/lb. premium. Steak marbling and whether the animal was fed genetically modified corn were of less importance to consumers.
Keywords: Consumer/Household Economics; Food Consumption/Nutrition/Food Safety (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea00:21793
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