Consumers Valuations and Choice Processes of Food Safety Enhancement Attributes: An International Study of Beef Consumers
Glynn Tonsor (),
Joost Pennings () and
James Mintert ()
No 9976, 2007 Annual Meeting, July 29-August 1, 2007, Portland, Oregon from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)
Food safety concerns have had dramatic impacts on food and livestock markets in recent years. Here we examine consumer preferences for various beef food safety assurances. In particular, we evaluate the extent to which such preferences are heterogeneous within and across country-of-residence defined groups and examine the distributional nature of these preferences with respect to marginal improvements in food safety. We collected data from over 4,000 U.S., Canada, Japan, and Mexican consumers. Using mixed logit models we find that Japanese and Mexican consumers have WTP preferences that are nonlinear in the level of food safety risk reduction. Conversely, U.S .and Canadian consumers appear to possess linear preferences. These results suggest that optimal food safety investment strategies hinge critically upon consumer perception of actual food safety improvements, the distributional relationship describing the targeted consumer segment's tradeoff function between WTP premiums and risk reduction levels, and the cost structure of these investments.
Keywords: Demand and Price Analysis; Food Consumption/Nutrition/Food Safety (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea07:9976
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