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RELATIVE AND ABSOLUTE RISK FORMAT IN ELICITING WILLINGNESS-TO-PAY FOR BEEF IRRADIATION

Arbindra Rimal, Stanley M. Fletcher and Kay H. McWatters

No 21825, 2000 Annual meeting, July 30-August 2, Tampa, FL from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: The relationship between the valuation of reduced risk through irradiation and framing of risk information was determined using absolute and relative risk formats. A double-bounded CV survey was used to measure willingness-to-pay (WTP) for irradiated beef among 740 U.S. households. Results show that the WTP was sensitive to the risk formats.

Keywords: Consumer/Household; Economics (search for similar items in EconPapers)
Date: 2000
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea00:21825

DOI: 10.22004/ag.econ.21825

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